US Stock Markets Close Lower, Amid Global Market Volatility
The US stock markets closed lower on Tuesday, as investors remained cautious in the face of escalating tensions between Israel and Iran. The Dow Jones Industrial Average finished the day at 42,216 points, a 0.7 percent decline from the previous trading day.
The broader S&P 500 index also fell, closing at around 5,980 points, a 0.8 percent decline, while the tech-heavy Nasdaq 100 index dropped 1.0 percent to approximately 21,719 points.
The market’s volatility was attributed, in part, to the ongoing conflict in the Middle East and the potential for further escalation, following US President Donald Trump’s statement calling for the Iranian regime’s unconditional surrender. Trump, who had abruptly left the G7 summit in Canada on Monday, tweeted that he knew the exact location of the Iranian supreme leader, who he described as a “soft target” that would not be eliminated “for now.”
Meanwhile, the European common currency, the euro, weakened against the US dollar, trading at around 1.1484 dollars per euro, while the dollar was valued at 0.8708 euros. The gold price remained relatively stable, with a fine ounce selling for around 3,384 US dollars, or 94.75 euros per gram.
In the energy market, the price of Brent crude oil surged, rising 4.5 percent to approximately 76.49 US dollars per barrel, as investors sought safe-haven assets amid the global market turmoil.