The New York stock market closed higher today following a slight pullback in bond yields.

The Dow Jones Industrial Average earned 0.56% to close at 53,061.95 points.

The S&P 500 rose 0.46% to finish the day at 7,666.6 points, while the Nasdaq Composite increased 0.45% to 26,217.83 points.

The Volatility Index (VIX), often referred to as the market’s “fear index,” fell 6.98% to 15.2.

The continued escalation of tensions in the Middle East following the latest wave of US attacks on Iran, and reports of Tehran retaliating against US allies, had triggered a sell-off in the markets.

US President Donald Trump stated today in the Oval Office that the US is prepared to launch further attacks on Iran whenever it wants.

Trump maintained that the Strait of Hormuz is entirely under US control, saying that numerous oil tankers continue to pass through the strait daily.

With these developments, Brent crude futures rose 0.4% to $95 per barrel.

Concerns about the impact of rising oil prices on inflation and expectations of a potential Fed interest rate hike led to a slight decline in bond yields.

The yield on the US 10-year Treasury bond retreated slightly to 4.78% after reaching its highest level since November 2023 at 4.82%.

European markets

European stocks posted declines on Wednesday as the pan-European Stoxx Europe 600 index decreased 0.24% to close at 645.91 points.

The UK’s FTSE 100 was down 0.3% to 10,756.45 points, Germany’s DAX 40 fell 0.5% to 25,839.33 points, and France’s CAC 40 went down 0.26% to 8,280.63.

Italy’s FTSE MIB 30 decreased 0.24% to 51,792.10 points, and Spain’s IBEX 35 dropped 0.23% to 19,779.00 points.