Dow, S&P 500, Nasdaq: Wall Street starts with little change
The major US indexes are trading at a high level - investors are not being deterred by rising oil prices. However, this stability may be short-lived.
Investors in the U.S. stock market remain largely unaffected by the complexities of the Iran conflict. U.S. major indices close slightly in the red - but continue to sit at a high level. The leading Dow Jones index is down about 0.3 percent to 53,791 points. The current record from last week stands at 54,739 points. The broader S&P 500 is at 7,728 points and down 0.3 percent.
This is the highest point at 7,792. The tech-heavy Nasdaq Composite, however, is the biggest loser with a 0.6 percent decline. The Nasdaq 100, which includes the 100 largest U.S. technology companies listed on the Nasdaq exchange, loses slightly at 29,525 points. Markets oscillated between hope and fear, according to Jochen Stanzl, chief market analyst at Consorsbank.
Investors have become accustomed to the fluctuating situation in the Middle East and have "grown a thick skin," Stanzl notes. However, he warns: "Resilience is not the same as immunity." The Gulf region remains a powder keg - sentiment could change at any moment. Even Mark Malek, head of asset management at Siebert Financial, shares this view: "Markets have been heavily influenced by recent Iran headlines and the US government's related messages."
Now, U.S. President Donald Trump conditions future negotiations for resolving the conflict with Iran on compensation payments to all those injured or killed by Iranian forces in the past, he tweeted on Monday.
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- Wall Street ends down as expectations of Hormuz deal fade straitstimes.com