US stocks surrendered earlier gains in closing trading and declined broadly. Investors are reassessing diminishing hopes for an earlier-than-expected end to the war between the USA and Israel against Iran. On the foreign exchange market, the dollar gained slightly.
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Major US Indexes Close with Losses
The Dow Jones index, which includes stocks of 30 leading American companies, fell 0.07 percent and closed at 47,706.51 points. The broader S&P 500 index declined 0.21 percent to 6,781.48 points. The Nasdaq Composite index, which includes many advanced technology sector firms, closed nearly unchanged, rising 0.01 percent to 22,697.10 points.
“The market showed some strength, but now it has lost it all,” said Tim Ghriskey, an analyst at Ingalls & Snyder in New York. “There is significant uncertainty among investors,” he added.
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Oil Plunges, Dollar Gains Slightly
Oil prices fell sharply today after climbing to more than three-year highs. US light crude West Texas Intermediate (WTI) lost over 11 percent in closing trading. Iran threatened to continue an oil blockade.
The dollar posted modest gains against other major currencies. Investor interest in riskier assets remained weak due to developments in the Middle East conflict. Around 21:00 CET, the dollar index, which expresses the value of the dollar against a basket of six major world currencies, fell 0.3 percent to 98.91 points. The euro weakened 0.2 percent against the dollar to 1.1612 USD. The American currency also strengthened against the Japanese yen, also by approximately 0.2 percent to 158.02 JPY.
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Source: CTK
