Trading for the main shares of the United States (US) fell on Wednesday following significant losses in the first trading session of October.
The drop in stock prices was largely driven by the rising tensions in the Middle East, which negatively affected market confidence.
On Tuesday, the Dow Jones fell by 0.41%, the S&P 500 by 0.93%, and the Nasdaq Composite by 1.53%.
Especially major technology companies, including Nvidia, Tesla, and Apple, reported sharp declines, with losses of 3.7%, 1.4%, and 2.9%, respectively.
On the other hand, the war situation has prompted a resurgence in oil prices while supporting gains in energy stocks such as Exxon Mobil and Chevron.
Oil prices, which had previously fallen, showed a recovery following Iran's missile attack on Israel in response to Israel's incursion into southern Lebanon, which will limit supplies.
On the economic front, data revealed the US labor market remained strong, although the manufacturing sector showed no change.
Investors will closely monitor US ADP and NFP jobs data later this week to better understand future monetary policy.
Additionally, Nike shares fell 6% after the sports company withdrew its full-year forecast and delayed the company's forecast report.
