On Tuesday, although there were brief signs of easing in U.S.-Iran tensions, the risk of renewed conflict remains high, and the standoff between the Houthi rebels and Saudi Arabia has added to the uncertainty.
The U.S. Dollar Index weakened slightly, erasing all of its intraday losses, and ultimately closed down 0.11% at 101.25; the benchmark 10-year U.S. Treasury yield closed at 4.608%, while the 2-year U.S. Treasury yield, which is sensitive to the Fed’s policy rate, closed at 4.293%.
Spot gold fluctuated lower, briefly approaching the $4,010 mark—its lowest level in a week—and ultimately closed down 1.18% at $4,028.64 per ounce;Spot silver briefly fell below the $57 mark and ultimately closed down 2.2% at $57.13 per ounce.
International oil prices fell for the third consecutive trading day. Following reports in Israeli media that the U.S.-Iran Memorandum of Understanding might be reinstated, WTI crude deepened its intraday losses, hitting a low of $77.15, and ultimately closed down 3.5% at $78.32 per barrel;Brent crude ultimately closed down 3.93% at $81.95 per barrel.
The three major U.S. stock indices posted mixed results, with the Dow Jones Industrial Average closing up 1%, the S&P 500 up 0.2%, and the Nasdaq down 0.2%.The Nasdaq 100 Index entered a correction, falling 10% from its high, in just 38 trading days. SK Hynix (SKHY.O) fell 8.98%, and Micron Technology (MU.O) fell 8.85%.SanDisk (SNDK.O) fell 14%, with its share price down more than 50% from the all-time high it reached a month ago. SpaceX (SPCX.O) shares briefly fell 20% from their IPO price, wiping out $1.2 trillion in market capitalization from its peak.Apple (APPL.O) became the second company to surpass a market capitalization of $5 trillion during intraday trading. The Nasdaq China Golden Dragon Index closed up 1.08%, with NetEase (NTES.O) rising nearly 3%.