Stocks Pare Losses; Oil Cools on Strait of Hormuz Talks

The Dow marked another triple-digit drop on Thursday, earlier gapping to its lowest level since November. The S&P 500 and Nasdaq settled lower as well, though the former cut earlier losses in half. Oil prices took a breather after Israeli Prime Minister Benjamin Netanyahu said Israel is helping the U.S. reopen the Strait of Hormuz, and that Iran lost the ability to enrich uranium to make ballistic missiles. Tech sector weakness in light of Micron Technology's (MU) report also contributed to today's struggles. 

Continue reading for more on today's market, including:

• What you need to know about options assignment.
• Blue-chip tech stock eyes bounce off bullish trendline.
• Plus, stocks that could win March; mining stock selling off; and EV partnership to watch.

5 Things to Know Today

1. Federal safety regulators are investigating Tesla's (TSLA) automated driving-assistance system's ability to handle poor road conditions. (Wall Street Journal)
2. The Kremlin said negotiations between Washington, Moscow, and Kyiv to end the conflict in Ukraine were on "situational pause" amid the U.S.-Iran war. (Reuters)
3. Market madness; Which stocks win the Field of 68?
4. Mining stock eyes worst day since 2024 after Fed remarks.
5. New partnership sent Rivian Automotive stock surging.

Gold Prices Keep Sliding Amid Profit-Taking

Though oil prices settled higher following attacks on energy infrastructure in Iran and Qatar, they eased as the U.S. weighed lifting sanctions on Iranian oil at sea and releasing more oil from its strategic reserves. April-dated West Texas Intermediate (WTI) crude added 4.6% to finish at $96.70 per barrel.

Gold prices finished lower, with investors taking profits as they grappled with inflation and U.S.-Iran war concerns. April-dated gold futures shed 6% to finish at roughly $4,600 an ounce.