New York Stock Market: Major Indices Fall Amid Reignited Middle East Risks

Here is the latest from the New York stock market.

The three major indices all closed lower as geopolitical risks from the Middle East were reignited.

The Nasdaq fell by nearly 2%, while the S&P 500 and the Dow Jones Industrial Average both dropped by over 1%.

By sector, industrials saw the sharpest correction, sliding 3%, while materials and technology sectors also fell by more than 2%.

The market sentiment soured rapidly today as U.S. President Trump signaled the possibility of retaliatory airstrikes against Iran's key infrastructure.

In fact, the United States has just begun additional attacks on Iran.

International oil prices reacted immediately to the geopolitical anxiety, with West Texas Intermediate (WTI) rising more than 2% to surpass the $90 per barrel mark.

In addition, institutional investors looking to participate in the SpaceX public offering sold off large amounts of existing leading stocks to secure margin deposits, which further intensified downward pressure on semiconductor stocks late in the session.

Meanwhile, the Consumer Price Index (CPI) for May, released before the market opened, rose 4.2% year-on-year, marking its highest level in three years.

However, the core CPI, which excludes volatile food and energy prices, rose only 0.2% month-on-month, falling short of market expectations.

The expectation that the Federal Reserve will freeze interest rates this month was maintained due to relief that the core inflation trend has slowed.

Nevertheless, overall investor sentiment remained dampened by concerns over inflation triggered by the surge in oil prices.

Oracle, which announced its earnings after the market closed, saw its revenue and net income beat market expectations. However, the company's shares are trading lower in after-hours trading as revenue from its cloud division, which the market was most focused on, fell short of forecasts.

That concludes our report from the New York stock market.
※ Please note: This article was translated by AI and may contain errors.