The U.S. stock markets added strongly on Tuesday. By the close of New York trading, the Dow was quoted at 46,342 points, a gain of 2.5 % from the previous day. A few minutes earlier the broader S&P 500 had slipped to about 6,529 points, a 2.9 % rise, while the technology‑heavy Nasdaq 100 was around 23,740 points, up 3.4 %.
Oil prices fell sharply. At about 10 p.m. German time, one barrel of Brent crude from the North Sea traded at $104.20, down 317 cents or 3.0 % from the previous close.
Markets responded to reports that officials in the Iran conflict might seek de‑escalation. However, U.S. President Donald Trump, on his personal platform, urged other countries to intervene in the war. He wrote: “For all those countries that can’t get jet‑fuel because of the Strait of Hormuz-such as the United Kingdom, which has refused to join the beheading of Iran-I have a suggestion. First, buy from the USA; we have enough supply. Second, musters your courage, go to the Strait of Hormuz, and take it for yourselves. You need to learn to fight for yourselves – the USA will no longer stand by you, just as you have not stood by us”. Trump described Iran as “in essence decimated” and claimed the hardest part had been done, urging nations to procure their own oil.
The euro strengthened against the dollar. On Tuesday evening, one euro was worth $1.1559; conversely, one dollar could be exchanged for €0.8651.
Gold posted notable gains. By evening, a fine ounce fetched $4,682, a 3.7 % increase, equivalent to €130.22 per gram.