Middle East tensions push Wall Street mostly lower
Translated from Chinese and summarized by DistantNews. Read the original for the full story.
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- Renewed attacks between the United States and Iran heightened tensions in the Middle East and pushed international oil prices higher.
- Investors worried that higher oil prices could add to inflationary pressure, weighing on most major Wall Street indexes.
- The Dow Jones fell 0.70%, the S&P 500 declined 0.33%, and the Nasdaq slipped 0.12%, while the Philadelphia Semiconductor Index rose 0.57%.
Renewed attacks between the United States and Iran sent most major US stock indexes lower as investors assessed the risk that a more tense Middle East could drive oil prices higher.
The Dow Jones Industrial Average fell 374.09 points, or 0.70%, to close at 53,185.90. The S&P 500 dropped 25.62 points, or 0.33%, to 7,686.14, while the Nasdaq declined 31.53 points, or 0.12%, to 26,370.89.
The rise in international oil prices revived concerns about inflation. Investors feared that more expensive energy could increase pressure on prices, weighing on the broader market.
The Philadelphia Semiconductor Index moved against the wider trend, gaining 65.39 points, or 0.57%, to finish at 11,535.05.
About this summary
Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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