Here is the New York stock market.
The three major U.S. stock indices all closed slightly lower.
The Nasdaq dropped by the 0.3% range, and the S&P 500 fell 0.06%.
By sector, energy surged 3% amid the fallout from Middle East risks, while utilities and real estate declined in the 1% range.
As concerns grew that negotiations between the U.S. and Iran surrounding the Strait of Hormuz would face difficulties, indices that had risen near record highs edged down to take a breather.
Iran stated that it was close to an agreement with Oman to reopen the strait, but drew the line at direct negotiations with the U.S.
Amid observations that it would be difficult to resolve the conflict in the short term, international oil prices surged by around 5%.
In addition, news that U.S. Strategic Petroleum Reserve inventories had fallen to their lowest level in about 40 years, along with soaring U.S. Treasury yields, also put pressure on the stock market.
As rising crude oil prices stimulate overall production costs and prices, increasing inflationary pressure, anxiety spread in the market that the Federal Reserve would not easily lower benchmark interest rates.
Among individual stocks, weakness was notable among major tech and semiconductor stocks.
Intel fell more than 4% after announcing plans to issue 15 billion dollars in common stock for AI investments.
Nvidia also dropped in the 2% range amid concerns over financial burdens following news that it is pushing to raise up to 500 billion dollars to build AI infrastructure in partnership with major Wall Street financial institutions.
The market is now focusing on the July Consumer Price Index (CPI), which is set to be released tomorrow night, Korean time.
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