U.S. stock markets ended slightly lower on Monday after fresh tensions between the U.S. and Iran worried investors. The S&P 500 fell by about 0.2%, showing a small drop from its recent record highs. The Dow Jones Industrial Average stayed almost flat, slipping just less than 0.1%. 4. The Nasdaq Composite dropped around 0.3%, ending its strong winning streak. In fact, the Nasdaq’s fall broke a 13-day winning streak and ended a run of record closes last week, as per CNBC TV18.
Exact closing numbers S&P 500 closed at 7,109.14, down 16.92 points. Dow Jones closed at 49,442.56, down 4.87 points. Nasdaq closed at 24,404.39, down 64.09 points. The Russell 2000 (small companies index) actually rose 0.6% to 2,792.96, as per AP.
Why markets fell The main reason for the drop was renewed geopolitical tension in the Middle East, especially between the U.S. and Iran. Over the weekend, the situation became tense again, shaking investor confidence, as stated by CNBC TV18. Iran warned that the Strait of Hormuz may not stay open, which is a key oil shipping route. The U.S. also seized an Iranian cargo ship near Oman, increasing tensions further. These events created doubt about ongoing peace talks between the U.S. and Iran.
Oil prices jump Oil prices surged sharply due to fears of supply disruption. U.S. crude (WTI) rose about 6.9% to $89.61 per barrel. Brent crude jumped about 5.6% to $95.48 per barrel, crossing $95 again. The rise shows worries that oil supply through the Strait of Hormuz could be disrupted, as per CNBC TV18.
But
Read More