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Wall Street closes mixed amid tech stock pressure, falling oil prices
🇬🇷 Greece /Economy & Trade

Wall Street closes mixed amid tech stock pressure, falling oil prices

From Ta Nea · () Greek

Translated from Greek, summarized and contextualized by DistantNews.

At a glance

News Sources not specified Outcome reported
  • Wall Street stocks closed mixed on June 24, with the Dow Jones Industrial Average rising and the Nasdaq Composite falling.
  • Tech stocks faced pressure due to concerns over increased spending on artificial intelligence development.
  • Oil prices dropped significantly, with Brent crude falling below $73 per barrel and WTI below $70.

New York's financial markets experienced mixed trends on June 24, as pressure mounted on technology company stocks. Investors worried about rising expenditures for artificial intelligence development.

The Dow Jones Industrial Average gained 182.06 points, or 0.35%, to close at 51,848.90. In contrast, the Nasdaq Composite, heavily weighted with tech firms, dropped 110.40 points, or 0.43%, to 25,476.63. The broader S&P 500 index saw a slight decline of 7.24 points, or 0.10%, ending at 7,358.22.

Oil prices continued their downward trend. Brent crude futures lost over 5%, settling just above $73 a barrel, their lowest point since late February before U.S. and Israeli airstrikes on Iran. West Texas Intermediate futures fell about 3.40% to just under $70 a barrel, having previously hit a March low. Government bond yields also decreased, with the 10-year U.S. Treasury yield falling below 4.5%.

DistantNews Editorial

Originally published by Ta Nea in Greek. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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