The US markets ended mostly lower on Monday, as escalating Middle East tensions weighed on sentiments following U.S. President Donald Trump’s new warning to Tehran. Traders overlooked comments from Federal Reserve Chair Jerome Powell, who said inflation expectations remain ‘well anchored beyond the short term’ despite rising energy costs, noting that the central bank could face policy challenges in the future but is not confronting them yet. On the sectoral front, computer hardware and networking stocks saw substantial weakness, adding to the decline in the tech-heavy Nasdaq. Despite a continued surge in crude oil prices, oil service stocks moved sharply lower, with the Philadelphia Oil Service Index plunging 3.3%. Airline stocks also experienced considerable weakness during the session, while biotechnology and pharmaceutical stocks delivered strong performances.

Nasdaq decreased 153.716 points or 0.73 percent to 20,794.641 and S&P 500 tumbled 25.13 points or 0.39 percent to 6,343.72, while Dow Jones Industrial Average increased 49.50 points or 0.11 percent to 45,216.14.