Markets On Edge, Stocks Fall, Wall Street Slips, Crude Oil Spikes And Investors Brace For Wednesday Ceasefire Deadline
Wall Street started the week on shaky ground as the Iran crisis refused to let markets breathe.
According to CNBC, the Dow Jones Industrial Average lost 110 points while the S&P 500 shed 0.4% and the Nasdaq pulled back 0.5% on Monday, even as traders largely bet that the US and Iran would eventually reach a compromise.
The mood across global markets was cautious. Asia Pacific markets were mostly higher but investors kept a watchful eye on Middle East developments, with South Korea’s Kospi rising 1.19% and Japan’s Nikkei 225 gaining 0.88%.
Oil told a different story. West Texas Intermediate futures jumped over 6% to 89 dollars per barrel while Brent crude climbed above 95 dollars, with both benchmarks surging as high as 7% in early trading before pulling back slightly.
The trigger was clear. Trump confirmed that the USS Spruance intercepted and seized the Iranian flagged vessel Touska in the Gulf of Oman, with US Marines taking custody of the ship after it attempted to breach the naval blockade of Iranian ports.
Despite the geopolitical noise, software stocks held firm with the iShares Expanded Tech Software Sector ETF rising more than 1%, offering some cushion to the broader selloff.
With the ceasefire expiring Wednesday, markets are riding every headline, especially Wall Street. Like this finance oriented news? Check our previous article here.
