US stock markets declined on Wednesday. The Dow Jones index closed at 44,873.28, a 0.71% increase from the previous trading day.
The broader S&P 500 index, meanwhile, gained around 0.4% to around 6,060, while the Nasdaq 100 index added around 0.4% to around 21,600.
Despite the recent focus on the US Big Techs by Chinese antitrust authorities, which could potentially harm their business in the Far East and impact their revenue and profit growth, market analyst Konstantin Oldenburger of CMC Markets noted that the current developments have not significantly impacted the markets.
“While it is clear to every market participant that a trade war would at the very least lead to increased economic uncertainty and potentially even slow down the global economy in the long run, there is also the possibility that the tariffs could ultimately be a negotiating tactic and that the tensions with China could be alleviated if the government leaders come to an agreement at the last minute” Oldenburger said.
“The threat to the Big Techs by DeepSeek could even be seen as a new challenge and could ultimately make the companies stronger in the end” he added.
The European common currency, the euro, was stronger on Wednesday evening, with one euro equivalent to 1.0404 US dollars and one US dollar equivalent to 0.9612 euros.
Gold prices benefited from the market conditions, with the price of one fine ounce rising by 0.7% to 2,862 US dollars, or 88.46 euros per gram.
Oil prices, however, declined significantly, with a barrel of Brent crude costing around 74.70 US dollars at the close of the market on Wednesday evening, a decrease of 2% from the previous day’s close.