Financial Markets Experience Mixed Performance
The US stock markets closed lower on Friday, with the Dow Jones Industrial Average ending the day at 41,603 points, a decline of 0.6 percent compared to the previous trading day. The Nasdaq 100 index fared worse, falling 0.9 percent to 20,916 points, while the broader S&P 500 index closed at 5,803 points, a decline of 0.7 percent.
Apple’s stock took a significant hit, with the tech giant’s shares plummeting amid concerns over a potential 25 percent tariff on its iPhones, should the company fail to manufacture them in the United States. However, many experts believe a swift relocation of iPhone production to the US is unlikely.
Meanwhile, the euro strengthened against the US dollar, with one euro equivalent to 1.1360 US dollars and one US dollar trading at 0.8803 euros.
Gold prices surged, with an ounce of the precious metal selling for 3,361 US dollars, a 1.9 percent increase, which translates to a price of 95.11 euros per gram.
Oil prices, however, rose, with a barrel of Brent crude trading at 64.85 US dollars, a 0.6 percent increase from the previous day’s close.