Wall Street closes in the red due to the Middle East war
The New York Stock Exchange closed lower on Friday, at the end of a week marked by nervousness over rising energy prices due to the conflict in the Middle East. AFP The Dow Jones index fell 0.97%, the Nasdaq 2.01%, and the broader S&P 500 index 1.51%. […]
TL;DR
- The New York Stock Exchange ended the week lower due to nervousness over rising energy prices caused by the Middle East conflict.
- The Dow Jones fell 0.97%, the Nasdaq 2.01%, and the S&P 500 1.51% on Friday.
- Investors are concerned about military developments and the economic repercussions of a prolonged war.
- Damage to energy infrastructure, including the world's largest LNG plant in Qatar, has contributed to oil price hikes.
- Rising oil prices are affecting stock markets and altering expectations for US interest rates, with rate cuts now not anticipated this year.
- The yield on 10-year US Treasury bonds rose to 4.38%.
- Super Micro Computer stock plummeted over 33%, while FedEx and SolarEdge Technologies saw gains.