U.S. stock markets opened on a mixed note on Thursday as renewed military tensions between the United States and Iran dampened investor confidence, while cryptocurrency-related stocks gained on the back of higher bitcoin prices.
As of 10:20 a.m. ET, the Dow Jones Industrial Average climbed 79.20 points to 50,256.26. The S&P 500 edged up 0.13 points to 7,553.52, while the Nasdaq Composite fell 111.79 points to 26,095.10.
Investor sentiment came under pressure after the latest escalation in the Middle East. The United States reportedly carried out additional strikes on Iranian military facilities, prompting Iran to respond with attacks targeting U.S.-linked military sites in the Gulf region. The renewed exchange of military action has revived geopolitical concerns that had eased in recent weeks, adding fresh uncertainty to global financial markets.
Despite the broader market caution, cryptocurrency-linked stocks outperformed as bitcoin extended its gains. Strategy surged more than 5%, while Coinbase advanced about 3%, reflecting renewed optimism in the digital asset sector.
Technology shares showed mixed performance following strong gains in the previous session. Nvidia inched up 0.33% to $203.44, while Micron Technology declined 3.14% and Broadcom slipped 0.99% as investors locked in profits.
Separately, South Korean memory chipmaker SK hynix marked the listing of its American Depositary Receipts (ADRs) by holding an opening bell ceremony at the Nasdaq MarketSite.
