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US Stock Market Trend | Dow Down 350 Points, S&P 500 and Nasdaq Down Over 1%
The conflict in Iran is escalating, causing increased volatility in energy prices. Inflation concerns are pushing up bond yields in Europe and the US. US stocks continued to be under pressure on Friday, with the Dow Jones dropping into the final stretch, extending its decline to 350 points. The S&P 500 and Nasdaq both fell more than 1%.
As of 2:20 AM Hong Kong time, the Dow was at 45,670 points, down 350 points or 0.76%; the S&P 500 was at 6,529 points, down 76 points or 1.16%; the Nasdaq was at 21,722 points, down 368 points or 1.67%.
Although Israel signaled a temporary halt to attacks on Iran’s energy facilities, Iran continues to launch attacks in the Persian Gulf region. Meanwhile, according to US news website Axios citing four sources, the Trump administration is considering occupying or blockading Iran’s main oil export hub, Kharg Island, to pressure Iran and reopen the Strait of Hormuz.
Candriam Investment Director Nicolas Forest stated that the current market environment is quite fragile. With oil prices remaining high and the risk of rate hikes increasing, if stocks cannot hold their technical support levels, it could signal further pressure ahead.