US Stocks Close Lower, Dow Jones Loses 300 Points
US stocks fell at the close under pressure from rising oil prices and Treasury yields, as investors try to assess the pressures from the conflict in the Middle East.
Indicator
Indicator Reading
Change in Value
Change (%)
51,839.26
(307.16)
(0.59 %)
25,508.07
(12.17)
(0.05 %)
7,443.28
(14.41)
(0.19 %)
24,846.69
15.71
0.06 %
8,340.11
1.30
0.02 %
10,524.76
(75.64)
(0.71 %)
25,143.05
580.81
2.36 %
64,141.12
(2,694.42)
(4.03 %)
77,708.52
(442.93)
(0.57 %)
At the close, the "Dow Jones" Industrial Average fell 0.60% or 307 points to 51839 points.
The broader "S&P 500" index fell 0.2% or 14 points to 7,443 points, while the "Nasdaq" Composite index settled at 25,508 points.
In the Old Continent, the "Stoxx Europe 600" index fell 0.30% to 639.6 points.
Meanwhile, the UK's "FTSE 100" index fell 0.70% to 10,524 points, the German "DAX" index settled at 24,846 points, and the French "CAC 40" at 8,340 points.
On the Japanese front, the Tokyo Stock Exchange closed on Monday for "Marine Day", and trading is scheduled to resume tomorrow.
Commodity
Price
Change in Value
Change (%)
89.22
1.12
1.25 %
83.23
0.74
0.88 %
4,007.70
0.59
0.01 %
Regarding oil, Brent crude futures for September delivery rose 1.3% or $1.12 to $89.22 per barrel at settlement.
Also, US Nymex crude futures for August delivery rose 0.9% or 74 cents to $83.23 per barrel.
For precious metals, gold futures for August delivery settled at $4,019 per ounce.
What's behind the market move? Stocks came under pressure from rising US bond yields, as the conflict in the Middle East continues, which in turn pushes energy prices higher.
Original source: Argaam
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