The U.S. stock markets slid sharply on Thursday. By the close in New York, the Dow was quoted at 46,678 points, a decline of 1.6 % from the previous day. Just minutes earlier, the broader S&P 500 stood at about 6,673, down 1.5 %, while the technology‑heavy Nasdaq 100 was around 24,534, down 1.7 %.
Oil prices jumped, however. A barrel of North Sea Brent crude fetched $101.30 on Thursday evening at roughly 9 p.m. German time-a rise of 10.2 % from the previous close.
The backdrop for the market move included a statement from Iran’s new Supreme Leader, Ayatollah Ali Khamenei. In it, he called for revenge for war victims and demanded that the Strait of Hormuz remain closed because it is vital for oil transport.
U.S. President Donald Trump continued to stick to his hard‑line policy on Iran. “The United States is by far the world’s largest oil producer” he wrote on his personal platform. “So when oil prices rise, we make a lot of money. But for me as president, the far greater interest is to stop a malign empire-Iran-from acquiring nuclear weapons and destroying the Middle East and even the entire world”.
The euro weakened late Thursday. One euro traded at $1.1516, and one dollar was worth €0.8684.
Gold fell noticeably. By the evening, one fine ounce of gold sold for $5,088, down 1.0 %. That translates to €142.05 per gram.