LIVE MARKETS-Wall Street sells off as war worries reignite

Dow Jones Industrial Average
CBOE Volatility Index
S&P 500 index
NASDAQ

Dow Jones Industrial Average

DJI

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CBOE Volatility Index

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S&P 500 index

SPX

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NASDAQ

IXIC

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Main US indexes lower early; Dow down most, off >1%

Materials lead S&P 500 sector decliners; Energy up most

Euro STOXX 600 index falls >1%

Dollar edges lower; gold off >1%; bitcoin down >2%; US crude rallies >7%

US 10-year Treasury yield rises to ~4.59%

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WALL STREET SELLS OFF AS WAR WORRIES REIGNITE

Major U.S. stock indexes are lower in early trading on Wednesday as U.S. President Donald Trump's comments that an interim deal aimed at ending the U.S.-Israeli war with Iran was over reignited worries over the impact of the war on the global economy.

The Dow .DJI is down more than 1% and leading declines, while oil prices are more than 5% higher.

But some market watchers noted the reaction in stocks is not as severe as it would have been weeks ago.

"When I hear that ceasefire is off, I think it's a more muted reaction than the market would have put on that even just maybe four weeks ago, six weeks ago, eight weeks ago," said Bruce Zaro, managing director at Granite Wealth Management in Plymouth, Massachusetts.

"Oil prices have been on a downward trend" recently, and with more oil being added to the market "the potential for oil is to go lower."

With oil prices up sharply on Wednesday, energy .SPNY is up more than 1% and leading gainers among S&P 500 .SPX sectors. Materials .SPLRCM led sector decliners.

Here is the early market snapshot:

(Caroline Valetkevitch)

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EARLIER ON LIVE MARKETS:

MARKETS RATTLED BY IRAN REMARKS AS S&P 500 SUPPORT COMES INTO VIEW CLICK HERE

OIL, NOT DEFENCE, IS THE IRAN TRADE - FOR NOW CLICK HERE

HSBC JOINS THE ROTATION CLUB, SWAPS EM ASIA FOR EUROPE CLICK HERE

DATA CENTRES IN SPACE: SPOTTING THE WINNERS CLICK HERE

ENERGY STOCKS GAIN, THE REST STRUGGLE CLICK HERE

EUROPE BEFORE THE BELL: EYES ON THE GULF AGAIN CLICK HERE

CEASEFIRE? WHAT CEASEFIRE? CLICK HERE