NEW YORK, New York - .U.S. stocks fell Thursday, with the Nasdaq Composite dropping more than 1 percent, as President Donald Trump's shifting remarks on Iran whipsawed oil prices and unsettled investors.

Trump said he would soon begin bombing Iran, then said he would not attack until after the midterms. He had earlier ruled out a deal with Tehran while the U.S. military prepared for what he called "massive bombing" in the Middle East. Israel has reportedly demanded unprecedented restrictions on Iran's nuclear program, which Tehran insists is for peaceful purposes only. Israel, the region's sole nuclear power, has repeatedly undermined its neighbors' nuclear ambitions, bombing sites in Iraq and Syria in the past.

With no end in sight to the Iran conflict, U.S. markets have been volatile but remain near record highs. Trump, meanwhile, has been active in the markets, executing 517 transactions in his latest disclosure, including a $25 million purchase of Meta shares and $5 billion in SpaceX debt. Elon Musk, SpaceX's principal, was recently appointed to a Pentagon roundtable examining military options in space; Newt Gingrich is also an appointee.

The Standard and Poor's 500 fell 45.94 points, or 0.59 percent, to close at 7,755.83, on volume of 1.95B. The session saw a low of 7,731.26 against a high of 7,797.79.

The Dow Jones Industrial Average slipped 35.23 points, or 0.07 percent, to 51,144.64, on volume of 265.459M. The blue-chip index traded between 50,939.00 and 51,230.46.

The Nasdaq Composite was the weakest of the three, tumbling 376.01 points, or 1.37 percent, to 27,162.68, on volume of 5.471B. The tech-heavy index ranged from 27,066.76 to 27,491.90 during the session

U.S. Dollar Mixed as Major Currencies Strengthen; Australian Dollar the Lone Decliner

Foreign exchange markets on Thursday saw most major currencies gain ground against the U.S. dollar, with the Australian dollar the sole exception among the pairs quoted.

The euro rose against the greenback, with EUR-USD trading at 1.1210, a gain of 0.12 percent. The British pound also advanced, with GBP-USD at 1.3226, up 0.09 percent.

The Japanese yen strengthened, with USD-JPY at 157.8500, a move of 0.15 percent. The dollar also slipped against the Canadian dollar, with USD-CAD at 1.4223, a change of 0.23 percent, and against the Swiss franc, with USD-CHF at 0.8315, also 0.23 percent.

Bucking the trend, the Australian dollar weakened, with AUD-USD at 0.6956, down 0.10 percent — the only quoted currency to lose ground against the dollar in Thursday's session.

Global Stock Markets Close Mostly Lower Thursday as Asia, Europe Retreat; New Zealand and Tel Aviv Buck the Trend

Global stock markets closed mostly lower on Thursday, not only in the U.S. but worldwide, with broad selling pressure across Europe and Asia-Pacific benchmarks, while a handful of indices posted modest gains.

The S&P/TSX Composite index in Toronto defied the broader downtrend, gaining 93.65 points, or 0.27 percent, to close at 35,135.51, on volume of 146.152M. The Canadian benchmark traded between 34,952.95 and 35,215.43.

The FTSE 100 in London slipped 16.90 points, or 0.16 percent, to close at 10,441.60. The session saw a low of 10,367.25 against a high of 10,498.59.

Germany's DAX P fell 297.39 points, or 1.18 percent, to 24,806.97, trading between 24,792.79 and 24,997.26. In Paris, the CAC 40 declined 39.52 points, or 0.51 percent, to 7,729.69, with a range of 7,679.36 to 7,768.90.

The EURO STOXX 50 I dropped 53.56 points, or 0.87 percent, to 6,126.73, moving between 6,090.31 and 6,165.94. The Euronext 100 Index lost 7.44 points, or 0.40 percent, to 1,849.99. Belgium's BEL 20 was among the weakest performers in Europe, tumbling 128.47 points, or 2.32 percent, to 5,399.40.

In Asia, Hong Kong's HANG SENG INDEX fell 344.71 points, or 1.43 percent, to 23,785.79, after trading between 23,737.14 and 24,146.01.

Singapore's STI Index was one of the region's hardest hit, plunging 195.48 points, or 3.49 percent, to 5,412.96.

In Japan, the Nikkei 225 declined 993.60 points, or 1.42 percent, to 69,042.11.

In China, the SSE Composite Index lost 30.29 points, or 0.79 percent, to 3,811.90, on volume of 975.528M.

In Australia, the S&P/ASX 200 [XJO] shed 66.80 points, or 0.77 percent, to 8,660.90, while the ALL ORDINARIES [XAO] dropped 71.40 points, or 0.80 percent, to 8,823.20.

India's S&P BSE SENSEX declined 1,045.46 points, or 1.44 percent, to 71,593.24, trading between 71,327.75 and 72,693.97.

In Indonesia Thursday, the IDX COMPOSITE fell 115.44 points, or 1.88 percent, to 6,031.28. The FTSE Bursa Malaysia KLCI slipped 10.77 points, or 0.67 percent, to 1,601.01.

South Korea's KOSPI Composite Index dropped 177.97 points, or 2.62 percent, to 6,625.93, on volume of 302,539.

In Taiwan, the TSEC CAPITALIZATION WEIGHTED ST fell 492.93 points, or 0.99 percent, to 49,313.44.

Defying the broader downtrend, New Zealand's S&P/NZX 50 INDEX GROSS (GROSS) added 7.81 points, or 0.06 percent, to 13,691.85. 

In Africa, South Africa's Top 40 USD Net TRI Index gained 10.34 points, or 0.16 percent, to 6,426.82.

In the Middle East, Egypt's EGX 30 Price Return Index edged down 32.90 points, or 0.06 per cent, to 53,265.20, on a volume of 172.574M, with the session's low and high at 53,059.90 and 53,511.90.

Israel's TA-125 rose 1.59 points, or 0.04 percent, to 3,934.01.

The mixed-to-lower close reflected cautious sentiment across major markets, with European and Asian bourses largely in the red while a few smaller indices posted marginal gains.

(This report incorporates quotes retrieved with the assistance of artificial intelligence).

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