Shares, oil dip as US sanctions on Iran loom
On August 24, 2023, global equities faced a decline as technology stocks underperformed, offsetting support from falling U.S. Treasury yields and oil prices. Oil prices dropped more than $2 per barrel, as traders ignored an announcement by U.S. Treasury Secretary Scott Bessent regarding expanded secondary sanctions against entities and countries linked with Iran.
The U.S. government continued with its regular debt auctions, including long-dated bonds, despite plans to increase buybacks of 10- to 30-year securities. The Dow Jones Industrial Average rose 0.26%, the S&P 500 fell 0.28%, and the Nasdaq Composite dropped 0.76%. MSCI's global equities gauge also decreased by 0.40%. The Canadian dollar fell due to impending U.S.-Canada trade tensions.
Nvidia's upcoming quarterly report, scheduled for Wednesday, raised concerns among technology investors.
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- Indian shares fall as investors await details on Iran sanctions brecorder.com
- More US pressure is coming, but what sanctions does Iran already face? thenationalnews.com
- U.S. to unveil "economic D-Day" sanctions on Iran cbsnews.com
- Shares, oil dip as US sanctions on Iran loom channelnewsasia.com
