Stock market today: Dow, S&P 500, Nasdaq fall as Wall Street weighs prospects for Iran truce

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  Jack Daniel's proprietor Brown-Forman surges connected study of merger talks with Pernod Ricard

  Shares successful Jack Daniel's proprietor Brown-Forman (BF-A, BF-B) surged by much than 20% earlier paring gains connected Thursday aft Bloomberg reported that the French beverage elephantine Pernod Ricard (PRNDY) is successful talks with the American institution astir a imaginable acquisition.

  Shares successful Pernod traded down by astir 6%.

  While thing is acceptable successful stone, Pernod has had conversations with Brown-Forman enactment astir a imaginable merger of the 2 companies that would spot Pernod get the Jack Daniel's owner, Bloomberg reported.

  Brown-Forman's portfolio encompasses a wide assortment of spirits brands, including Herradura tequila, Woodford Reserve whiskey, Diplomatico rum, and Ford's Gin, among others. Pernod's portfolio includes Jameson whiskey, Beefeater gin, Absolut vodka, and Glenlivet scotch.

  A merger of the 2 companies would correspond a large tie-up successful the alcoholic beverage industry. The determination from Pernod comes arsenic beverage distributors person been struggling with slowing income maturation arsenic younger consumers acquisition an progressively smaller magnitude of alcohol.

  In a large study published successful August 2025, Gallup reported that lone 54% of Americans accidental they devour alcohol, the lowest level since Gallup began conducting the canvass astir 90 years ago.

• Trump says war-driven marketplace pullback 'hasn’t been astir arsenic severe'

  Stocks continued to drift little connected Thursday day aft President Trump stated that the existent marketplace turmoil isn't arsenic punishing arsenic helium expected.

  “Frankly, I thought the lipid prices would spell up more, and I thought the banal marketplace would spell down more,” Trump said successful a Cabinet gathering connected Thursday. “[The marketplace reaction] hasn’t been astir arsenic terrible arsenic I thought.”

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  In the meeting, Trump touted that the Dow surpassed 50,000 and that the S&P 500 deed 7,000 earlier this year.

  But those milestones were highly brief: The S&P ne'er closed supra the 7,000 intraday high, and the Dow spent conscionable 4 days supra its high-water mark.

  Currently, the S&P 500 is trading astir 6.5% disconnected its intraday precocious of 7,002 reached successful precocious January. It entered a pullback — a 5% drawdown from caller highs — 2 weeks agone and came person to entering a correction — a 10% diminution — past Friday. The Dow is trading 7.9% disconnected its all-time closing precocious of 50,188.

  Still, erstwhile Trump said Thursday that marketplace pullback would beryllium a "short-term hit" starring to higher banal prices successful the future, past suggests helium has a point.

  Argus analysts pointed retired successful a enactment connected Thursday (premium users tin download it here) that pullbacks hap frequently, and the mean clip for the marketplace to retrieve has been 1 month. For a correction, the analysts said, it whitethorn instrumentality 4 months — however, it depends connected the marketplace fundamentals astatine the time.

  Although the Iran warfare clouds the marketplace outlook successful the adjacent term, Argus expects lipid prices and involvement rates to autumn erstwhile the struggle ends.

  "Overall, we stay optimistic that stocks tin station gains successful 2026," the analysts wrote, "though our basal lawsuit outlook calls for single-digit returns, not the 15%-25% returns investors person enjoyed for the past 3 years."

• Meta banal tumbles aft tribunal loss

  Meta (META) stock, the biggest laggard among the "Magnificent Seven" tech stocks connected Thursday, dropped astir 6% successful the aftermath of the societal media company's ineligible nonaccomplishment connected Wednesday.

  On Wednesday, a Los Angeles assemblage recovered Meta and Alphabet's (GOOG, GOOGL) YouTube liable for damages to a young idiosyncratic successful a landmark lawsuit that focused connected the societal media companies' level designs alternatively of contented moderation. Google banal fell 1.8% connected Thursday.

  The unsocial attack and precedent acceptable by the suit are regarded arsenic opening up the companies to aboriginal cases, arsenic they showed the limits of the Section 230 instrumentality that has historically shielded societal media companies from liability.

  Meta besides laid disconnected 700 employees connected Wednesday, successful what could beryllium portion of a larger staffing alteration to come, portion besides awarding larger banal awards to apical executives excluding Mark Zuckerberg. If Meta's marketplace headdress tops $9 trillion, executives volition gain nine-figure banal awards.

  Read much here.

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  Fannie Mae acceptable to statesman accepting crypto-backed mortgages with Better Home and Coinbase product

  Mortgage-backed securities elephantine Fannie Mae (FNMA) is acceptable to soon statesman accepting cryptocurrency-backed mortgages, according to an announcement connected Thursday from owe originator Better Home & Finance (BETR) and the crypto speech Coinbase Global (COIN).

  Shares successful Better Home surged arsenic overmuch arsenic 12% pursuing the announcement, portion Coinbase traded down by astir 1.1%. Fannie Mae traded slid by astir 4.6% successful the over-the-counter market, according to Yahoo Finance data.

  A caller merchandise launched by the 2 companies volition let individuals to originate mortgages with Better Home that conform to Fannie Mae standards portion utilizing bitcoin (BTC-USD) oregon USD Coin (USDC-USD) arsenic collateral for the loan, the companies said successful a property merchandise connected Thursday.

  The motorboat of the "token-backed owe merchandise marks the archetypal clip an AI-native owe lender has utilized secured integer plus loans and the level of a large crypto speech to make a nonstop pathway from integer wealthiness to homeownership," Better said.

  The products "empower Americans who ain integer assets but deficiency capable downpayment funds, oregon similar to support downpayment funds liquid, to unafraid a location indebtedness by pledging their tokenized assets arsenic collateral," the institution said.

  While the offering is not the archetypal cryptocurrency owe merchandise to scope the market, the Wall Street Journal reported, the engagement of Fannie Mae brings crypto products much into the mainstream fiscal system, arsenic Fannie is backed by the national authorities and managed by the Federal Housing Finance Agency.

  A survey by Redfin successful 2025 recovered that much than 10% of millennial and Gen Z homebuyers sold crypto holdings to assistance money their down payments, the Journal reported.

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  Wave banal sinks arsenic results for weight-loss cause autumn beneath expectations

  Shares successful the pharmaceutical institution Wave Life Sciences (WVE) fell astir 60% aft the opening doorbell connected Thursday connected disappointing results that showed higher doses of its signature weight-loss cause were little effectual than expected.

  The driblet successful the company's stock terms was its largest connected record, according to Bloomberg.

  Wave, which produces the weight-loss cause WVE-007, positions itself arsenic a rival to the pharmaceutical giants Novo Nordisk (NVO) and Eli Lilly (LLY). Novo Nordisk makes Ozempic and Wegovy, portion Eli Lilly produces Zepbound — each highly fashionable GLP-1 weight-loss drugs.

  Wave's WVE-007 is intended to execute the aforesaid weight-loss results arsenic the drugs made by Novo Nordisk and Eli Lilly, but with acold little predominant treatments and without the GLP-1 broadside effect of musculus nonaccomplishment alongside abdominous loss.

  Previous studies of WVE-007 showed that a 240-milligram dose reduced full abdominous wide by 5% without nonaccomplishment of thin mass. Test results released by Wave connected Thursday, however, showed that a larger 400 milligram dose chopped full abdominous wide by little than 1% and little than a 0.2% nonaccomplishment successful thin mass, performing beneath expert expectations for the higher dosage.

  The institution partially attributed the quality to the information that the 400 milligram cohort "had a leaner baseline assemblage composition, with little BMI and much participants ... with steadfast levels of visceral fat," which "emphasize the interaction of baseline assemblage creation connected therapeutic effect and enactment expectations that evaluating individuals with higher BMI and visceral abdominous astatine baseline volition pb to greater improvements successful assemblage creation and value loss," the institution said.

• Jobless claims summation slightly

  US claims for unemployment benefits roseate somewhat successful a motion that the labour marketplace continues to clasp steady.

  Initial jobless claims accrued by 5,000 to 210,000 for the week ending March 21, the Labor Department reported Thursday. That was successful enactment with economists' expectations for 210,000 archetypal claims.

  Continuing claims, which way the unemployed colonisation inactive seeking work, decreased to 1.82 cardinal from a revised level of 1.85 cardinal the week before. That was the lowest level for continuing claims since May 25, 2024, the Labor Department said.

  The information suggested small alteration to softened labour conditions, which person been marked by debased occupation gains but not wide layoffs successful caller months.

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  US banal marketplace turns down astatine the opening bell

  The US banal marketplace turned reddish connected Thursday arsenic uncertainty surrounding the warfare successful Iran continued to thrust capitalist fears.

  The S&P 500 (^GSPC) slid by astir 0.8%, portion the Dow Jones Industrial Average (^DJI) fell a slimmer 0.4%. The tech-heavy Nasdaq Composite (^IXIC) moved astir 1% lower.

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  As of 2:00:03 PM EDT. Market Open.

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  The warfare successful Iran continues to thrust markets, arsenic each update from President Trump and consequent responses from the Iranian enactment plaything capitalist sentiment. Brent crude futures (BZ=F) held supra $100 arsenic the mixed signals dampened earlier hopes for an imminent easing successful hostilities. West Texas Intermediate (CL=F) crude moved supra $94 earlier somewhat pulling back.

  Data from the Bureau of Labor Statistics published connected Thursday greeting showed 210,000 archetypal jobless claims, successful enactment with expectations and somewhat supra past week's 205,000 archetypal claims.

• JetBlue considering a sale: Report

  JetBlue's (JBLU) banal fell arsenic overmuch arsenic 4% successful premarket trading connected Thursday aft a 13% summation the time before.

  The hose is reportedly considering a merchantability and has asked advisers to measure however an acquisition by United Airlines (UAL), Alaska Airlines (AAL), oregon Southwest Airlines (LUV) would spell implicit with regulators successful Washington, Semafor reported connected Wednesday. Those 3 airlines were down astir 2% connected Thursday.

  JetBlue, considered the sixth-largest hose successful the US, has been moving to crook astir its concern aft its planned merger with Spirit Airlines fell done successful 2024 erstwhile regulators blocked it connected antitrust grounds.

  The hose has struggled with profitability arsenic much cost-conscious travelers alert Frontier (ULCC) oregon Spirit Airlines, portion Delta's (DAL) and United's premium offerings person drawn travelers astatine the higher extremity of the income scale.

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  Premarket trending tickers: Olaplex, SSR Mining, Newmont, and AppLovin

  Olaplex (OLPX) banal soared 50% earlier the doorbell connected Thursday, pursuing the quality that German institution Henkel (HEN3.DE) volition get the hair-care marque for astir $1.4 billion.

  SSR Mining (SSRM) and Newmont (NEM) stocks fell astir astir 3% during premarket hours today. Mining stocks person suffered immoderate volatility implicit caller weeks owed to the warfare successful Iran and the fluctuations successful the terms of golden (GC=F), which was down 2% today.

  AppLovin (APP) stock fell 7% earlier the doorbell connected Thursday. So acold this year, the mobile company's shares person risen implicit 20%.

• Fed's Miran favors looking done lipid terms spike, says interest is astir occupation market

• Meta, Google hazard Big Tobacco-like fallout aft addiction trial

  A nonaccomplishment for (META) and Google's YouTube (GOOG, GOOGL) successful a high-profile proceedings implicit harms to children connected their societal media platforms whitethorn bring repercussions beyond the $6 cardinal damages awarded.

  From Bloomberg:

  Read much here.

• Google representation breakthrough prompts planetary chipmaker sell-off

  Bloomberg reports:

  Read much here.

• BlackRock’s Kapito warns investors are mispricing Iran risks

  From Bloomberg:

  Read much here.

• Super Micro Computer sued by shareholders implicit fraud

  Reuters reports:

  Read much here.