12:31 PM EDT, 06/03/2026 (MT Newswires) -- US equity indexes declined while crude oil futures jumped as Iran struck Gulf nations Kuwait and Bahrain with missiles amid faltering diplomacy with Washington.

The Nasdaq Composite fell 1% to 26,810.6 in midday trading Wednesday, with the S&P 500 down 0.7% to 7,559.4, and the Dow Jones Industrial Average lower by 0.8% to 50,884.2.

Kuwait came under a barrage of ballistic missiles and drones on Wednesday that shut its international airport, killed one person, and injured dozens more, as Iran launched its largest salvo of the near two-month ceasefire, The Wall Street Journal reported.

The US struck the evening before an empty oil tanker it said was attempting to breach its blockade, setting off a string of attacks by both sides, with Iran firing ballistic missiles at US bases in Kuwait and Bahrain, according to the news report.

Brent crude futures marched 2% higher to $97.94, and West Texas Intermediate crude oil futures increased 2.3% to $95.91.

Most US Treasury yields rose, with the 10-year up 4.2 basis points to 4.5%. The two-year advanced 3.5 basis points to 4.09%.