Mumbai, March 4 -- The Dow ended the day down 403.51 points (0.8%) at 48,502.27 after plummeting by more than 1,200 points to its lowest intraday level in almost three months. The Nasdaq slumped 232.17 points (1%) to 22,516.69 and the S&P 500 slid 64.99 points (0.9%) to 6,816.63.

Wall Street took an early nosedive amid fears over the Middle East conflict's fallout. As the war hit its fourth day, President Donald Trump warned it could last four to five weeks or much longer. Defense Secretary Pete Hegseth called it a "generational" chance to reshape the region, without specifying an end.

Crude oil prices spiked further after Iran closed the Strait of Hormuz in retaliation to U.S. and Israeli strikes, threatening any passing ships. Attacks...