Nedgang på Wall Street

Stock Market experiences a downturn shortly after opening as oil prices rise, reaching $104.3 per barrel, a 3.5% increase since midnight. The cause is increased unrest in the Middle East. President Donald Trump asserts he does not want a deal with Iran to end the war, and according to NBC News, Trump and his security team have discussed reinstating large-scale military operations in Iran.

Tensions in the region have risen recently. The Houthi militia, backed by Iran, has attacked Saudi Arabian airports, while Iran has launched attacks on tankers in the Strait of Hormuz, per CNBC. Simultaneously, rising interest rates weigh on the market. The interest rate on US ten-year Treasury bonds falls slightly to 5.2902%. Fed member Christopher Waller warns that additional rate hikes could be necessary to combat inflation.

Among individual stocks, Palantir rises 3.48% after Goldman Sachs upgrades the software company from hold to buy. The investment bank also raises its price target to $230, representing an upside of 18.5% from Wednesday's close. Elon Musk is pushing hard against what he describes as powerful businessmen with interests in India. He claims they are intentionally blocking the launch of satellite internet service Starlink in the country.

Musk wrote on X on Wednesday that they are "blocked by certain oligarchs in order to maintain their monopolistic grip on the Indian people," calling it "an outrage against the Indian people," without naming any specific individuals. He criticized it as "a crime against the people of India." The Indian telecommunication and internet market is dominated by Mukesh Ambani's Jio and Sunil Mittal's Airtel, together accounting for over 80% of the market, per CNBC.

Musk argues that Starlink will provide "fast and affordable internet access for those who cannot afford today's prices" in India. The Indian government rejects the criticism, stating that claims of unfair or discriminatory regulations are "groundless and incorrect." They point out that three global satellite operators have already been granted licenses, and all must meet security requirements.

Starlink received its own license in India last year, but the service is still not launched. According to a Bloomberg report from June, Indian authorities have put off approvals due to security concerns over the company's terminals.