Stock market today: Dow rises, S&P 500 and Nasdaq slip as war uncertainty drives oil prices higher

March 31, 2026 - 01:07

Financial markets delivered a mixed performance as escalating conflict in the Middle East continued to inject volatility into trading sessions. The Dow Jones Industrial Average managed to secure gains, while the S&P 500 and Nasdaq Composite edged lower, reflecting investor caution.

The primary driver of the day's sentiment was the ongoing uncertainty surrounding the conflict, now in its second month. This geopolitical tension directly fueled a sharp rise in crude oil prices, stoking concerns about persistent inflation and potential impacts on consumer spending and corporate profits. The energy sector saw notable gains on the back of higher oil, but this was offset by pressure in other areas of the market.

Concurrently, former President Donald Trump's latest comments on economic policy contributed to the day's uneven trading. Analysts noted that a perceived lack of policy consistency is causing investors to grapple with potential future scenarios, adding another layer of uncertainty to an already jittery market environment.

The divergence between the Dow and the tech-heavy Nasdaq highlights a shift toward more defensive assets, as traders seek stability amid the dual headwinds of war and political ambiguity. All eyes remain fixed on the Middle East, with the trajectory of oil prices expected to dictate near-term market direction as the situation develops.