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[US Stock Market Close] Iran claims nuclear facility attacked; fears of escalation grow. Dow drops 793 points, oil prices rise again, the US dollar surpasses 100.
Former President Trump announced a further 10-day extension for attacking Iranian power plants, which did not relieve market concerns. Instead, worries about the prolonged conflict affecting oil supply intensified, exacerbating global economic impacts and raising concerns that central banks worldwide may enter a rate hike cycle.
Latest U.S. Stock Market Closing:
Iran claims its nuclear facilities were attacked by U.S. airstrikes, including a site with a heavy water reactor and a plant producing uranium processing material known as “yellowcake.” Iran’s two largest steel mills were also hit, and Iranian officials are considering withdrawing from the Nuclear Non-Proliferation Treaty; the conflict may escalate, U.S. long-term bond yields rose, and the Dow Jones fell nearly 900 points on Friday.
The Dow closed at 45,166 points, down 793 points, the S&P 500 fell 1.67%, and the Nasdaq dropped 2.15%. Shares of Meta and Amazon fell 4%, while Tesla declined by 2.8%.
Spot gold prices rebounded by as much as 4.09%, reaching $4,554.93. The yield on U.S. 10-year Treasuries reported at 4.433%, marking an 8-month high; the yield on 20-year government bonds even broke above 5%, the first time since July of last year.
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Oil prices initially fell and then rebounded, with New York crude oil falling 2.54% before closing up 5.46% at $99.64, and Brent crude oil rising 4.22% to close at $112.57.
Funds continued to flow into the dollar as a safe haven, with the U.S. Dollar Index surpassing 100. LGT Royal Bank (Asia) pointed out that, tactically, they maintain a neutral stance on the dollar, considering that the U.S., as the largest net energy exporter globally, benefits from more favorable trade conditions amid the current energy crisis, while also reflecting the dollar’s status as a defensive asset during market volatility. Given the current inflation situation, we believe the Federal Reserve’s room to reduce rates is more limited than before, and under the base case scenario, we expect only one rate cut at most by 2026, lower than the previous expectation of 1 to 2 cuts.
The bank anticipates that within 6 to 12 months, assuming energy transportation through the Strait of Hormuz gradually normalizes, the market will slowly resume a trend of diversifying away from the dollar, which will exert mild downward pressure on the dollar against some major currencies. This outlook reflects ongoing market uncertainty regarding U.S. policy and fiscal sustainability, while other economies like Australia and China show relatively improved prospects. However, the risk of a stronger dollar remains, and the longer the disruption in energy supply lasts, the more pronounced this risk becomes.
Ebrahim Rezaei, spokesperson for the Iranian Parliament’s National Security and Foreign Policy Commission, stated on social media on Friday that the Nuclear Non-Proliferation Treaty has not brought any substantial benefits to Iran. Rezaei also pointed out that IAEA Director-General Grossi’s claim that the only way to eliminate Iran’s nuclear program is through nuclear bombardment is provocative and dangerous.
Pierre Wunsch, a member of the European Central Bank’s governing council and also the governor of the Belgian central bank, stated that if the Iranian conflict is not resolved by June, the ECB may have to take action to raise interest rates.
Pierre Wunsch, a member of the European Central Bank’s governing council, stated that if the Iranian conflict is not resolved by June, the ECB may have to take action to raise interest rates.
The Hong Kong stock market and ADR updates are ongoing, for details please see: Next Page
Market Movement:
【18:29】Trump extends the ultimatum by 10 days, Dow futures fell by 67 points, Nasdaq futures fell by 0.2%, and both the dollar and U.S. long-term bond yields rose.
【15:11】Dow futures rose by 177 points, reaching 46,407 points, S&P futures rose by 29 points to 6,554 points, and Nasdaq futures rose by 111 points or 0.5% to 23,905 points.
【15:11】Oil prices showed mixed results, with New York crude down 0.3% at $94.24, while Brent crude rose nearly 0.1% to $108.11. Gold prices rose over 1%, with New York futures at $4,487, up 1.8%, and spot gold at $4,451, up 1.7%.
【13:25】【AI + Memory】Google unveiled new technology TurboQuant for scattered storage; chip stocks see Morgan Stanley calling it “another DeepSeek moment”; analysis: positive for cloud service giants.
【11:26】【U.S. Currency】Trump’s signature will appear on the new U.S. banknotes, breaking a 165-year tradition for U.S. presidents.
【11:15】【Yen Movement】The yen traded at 4.91 against the Hong Kong dollar; Japanese Finance Minister Katayama hinted at possible currency market intervention.
【10:56】【AAPL】Apple unusually granted bonuses to iPhone hardware designers to prevent employees from being poached by OpenAI and others.
【10:49】【U.S. Interest Rates】Federal Reserve Vice Chair Jefferson: The impact of rising energy prices on inflation remains limited; the current interest rate stance is appropriate.
【10:24】【AI + OpenAI】OpenAI’s U.S. promotions have generated over $100 million in revenue within six weeks, with plans to expand to more countries in the coming weeks.
【10:07】【Gold Price Movement】Gold prices have regained some ground as Trump delays the deadline for reaching an agreement with Iran; the Turkish central bank’s sale of over $8 billion in gold exacerbates downward pressure on gold prices.
【10:06】【Iran Crisis】Trump: Extending the negotiation deadline to April 6; “Iranian representatives politely requested 7 days, and I gave 10 days.” (Updates ongoing)
【09:59】【NFLX】Netflix raised the monthly fees for all U.S. subscribers, with increases of over 12%.
【09:28】【IPO of New Stocks】Reports say Anthropic is considering an IPO as early as October, potentially raising over $60 billion.
【08:47】【IPO of New Stocks】Reports indicate SpaceX will hold an investor briefing in April, planning to allocate up to 30% of the IPO quota to retail investors.
【08:16】【AI + Siri】Apple’s Siri undergoes a “major overhaul”; it’s rumored that Apple plans to open Siri to external AI assistants.
$1 or less for March 26 U.S. stock market conditions====
Thursday: Trump extends the deadline for attacking Iranian power plants by 10 days, oil prices roller-coaster.
Former President Trump stated on the social media platform Truth Social, “At the request of the Iranian government, please let this statement represent my suspension of the destruction period of power plants for 10 days, until Monday, April 6, 2026, at 8 PM Eastern Time. Discussions are ongoing, despite the fake news media and others spreading contrary misinformation, the talks are progressing very well.”
Brent crude oil once evaporated a 7% increase; however, due to the information still indicating that the Strait of Hormuz will face more than 10 days of blockade, oil prices quickly rebounded by 5% to $107.
Latest U.S. Stock Market Closing:
Continued inflation concerns saw U.S. 10-year yields rise to 4.412%, an increase of 0.079%, while the dollar index rose 0.3% to 99.93.
The Dow closed down 469 points, ending at 45,960 points, the S&P fell 1.7%, closing at 6,477 points, and the Nasdaq dropped 2.4%, closing at 21,408 points.
Trump stated in a cabinet meeting that the U.S. will continue to strike against them until Iran reaches an agreement to end the conflict. He confirmed in the meeting that the U.S. still plans to keep the Iranian war going for only four to six weeks.
Trump revealed that the “gift” sent by Iranian negotiation representatives was the allowance for at least 8 oil tankers to pass through the Strait of Hormuz earlier this week. Trump stated that the passage of these vessels through the strait was a signal to the U.S., indicating that the negotiation representatives were showing “we are genuine and reliable.” Trump said these oil tankers might be flying the Pakistani flag. He continued, “At that time, I said, ‘Well, I think we are dealing with the right people.’ In fact, they later apologized for some of the things they had said.” The White House declined to provide more details about the oil tankers.
Earlier, Trump posted on Truth Social, stating that the Iranian negotiation representatives were quite unusual and somewhat “strange.” On one hand, they “pleaded” with the U.S. to reach an agreement, which he felt was understandable. However, they publicly stated that they were only considering the U.S. proposals. He bluntly stated that this was a big mistake and urged Iran to take it seriously as soon as possible, or it would be too late, and the consequences would be dire!
He later stated in an interview that the Iranian issue would be resolved soon, and energy prices would fall, even to lower levels. He did not know whether they were willing to reach an agreement with Iran, indicating that they should have reached an agreement four weeks ago and missed the opportunity. He also mentioned that the U.S. had completely destroyed the Iranian Navy and Air Force, as well as about 90% of missile and missile launch facilities, and stated that Iran was expected to use nuclear weapons against Israel, other countries in the region, and the U.S.
Iran’s Tasnim News Agency quoted sources stating that Iran formally responded to the U.S. proposal for a 15-point ceasefire agreement on Wednesday (25th) and is awaiting a response. In its reply, Iran stated that the enemy’s aggression and terrorism must end, objective conditions must be created to ensure that war does not repeat, war reparations must be guaranteed and resolved, and the end of the war must be implemented on all fronts and against all resistance organizations involved in this battle, across the entire region.
Egypt confirmed its participation in mediating between the U.S. and Iran. Egyptian Foreign Minister Abdelatty stated that Egypt, along with Turkey and Pakistan, is assisting in conveying messages between the U.S. and Iran and is involved in broader mediation efforts to de-escalate the regional situation.
Schroder stated that the situation in the Iran conflict still has various possibilities, making the economic and financial market outlook difficult to discern: if oil prices are above $120 per barrel or below $90, the global economy will present two entirely different scenarios. Compared to February, the probabilities of both extreme situations have increased, while the originally moderate “economic stability” scenario has seen a corresponding decrease in likelihood.
The bank indicated that due to inflationary pressures brought about by oil price shocks, it raised the probability of an “overheating” economic scenario; however, this assessment remains lower than the probabilities implied by the market. Central banks worldwide will closely monitor the possibility of “second-round impacts,” such as rising medium-term inflation expectations, wage increases, and supply chain disruptions.
The Hong Kong stock market and ADR updates are ongoing, for details please see: Next Page
Market Movement:
【23:00】Trump: The Iranian issue will be resolved soon, and energy prices will fall; Egypt confirms its participation in mediation; the Dow fell by 75 points, oil prices rose by 4%.
【21:30】Trump urges Iranian negotiation representatives to take it seriously; Egypt confirms its participation in mediation; the Dow fell by 218 points, oil prices rose by 4%.
【18:15】Dow futures fell by 317 points, Nasdaq futures fell by 0.8%; oil prices rose by 4%; gold prices fell after two consecutive days of gains.
【14:27】Dow futures fell by 190 points, reaching 46,521 points; S&P futures fell by 29 points to 6,611 points; Nasdaq futures fell by 126 points or 0.5% to 24,241 points.
【14:27】Oil prices rose by 2%, with New York crude at $92.41, up 2.3%; Brent crude at $104.68, up 2.4%. Gold prices fell after two days of gains, with New York futures down 3% at $4,446, and spot gold down 1.7% at $4,429.
【14:19】【Private Equity】Former Goldman Sachs CEO warns: The private equity market hides a “fire” crisis; failure to sell assets may trigger massive impairments.
【13:39】【U.S. Stock Analysis】The Dow rose by 300 points; analysis: The current rebound is driven by ceasefire speculation; the U.S.-Iran conflict is unlikely to end soon, and oil prices are expected to rise again.
【11:58】【Iran Crisis】BlackRock President warns investors to not underestimate the risks of the Iranian war; even if “war is announced to be over tomorrow,” oil prices could still soar to $150.
【11:43】【AI + Meta】AI investments are substantial; Meta initiates another round of layoffs, involving hundreds of employees.
【10:47】【Dollar Movement】Morgan Stanley: The rise in the dollar may be a “bull trap”; the market underestimates the negative impact of the Iranian war on the U.S. economy; the Federal Reserve is expected to cut rates twice this year.
【10:15】【U.S. Rate Cuts】Federal Reserve Board member Milan raised rate expectations by 0.5 percentage points, stating it is not due to oil prices or Iranian factors.
【09:28】【Gold Price Movement】Gold prices have stabilized after two days of gains; spot gold continues to hold steady.
【08:47】【Oil Price Movement】Reports suggest the U.S. is assessing the impact of oil prices rising to $200 in extreme scenarios; the White House denies this.
【08:29】【Iran Crisis】Citrini founder: The Federal Reserve will “ignore” the impact of oil prices and should not abandon rate cut expectations; previously issued an AI “apocalypse report” that shook the market.
【08:04】【Trump-Xi Meeting】The White House officially announced Trump’s visit to China from May 14 to 15, stating that Xi Jinping will also visit Washington this year.
【07:27】【Iran Crisis】No sign of Iran “delivering a major gift”; White House’s Leavitt: If Iran refuses to accept reality, Trump will intensify strikes (updates ongoing).
$1 or less for March 25 U.S. stock market conditions====
Wednesday: The Dow rose by 305 points; Iran claims to have shot down a U.S. F-18 fighter jet; the White House: Trump will visit China in mid-May.
White House Press Secretary Karoline Leavitt announced on Wednesday that President Trump’s meeting with Chinese President Xi Jinping will take place from May 14 to 15 in Beijing; markets speculate that the new schedule implies the U.S. expects the Middle East conflict to end by mid-May, leading to a significant rebound in U.S. stocks on Wednesday.
Latest U.S. Stock Market Closing:
The Dow’s rise was initially as much as 594 points, but uncertainty over war negotiations caused the index to narrow its gain to 305 points, closing at 46,429 points; the S&P rose by 0.54%, and the Nasdaq increased by 0.77%, reflecting a 1.86% increase in the Golden Dragon Index, which tracks Chinese concept stocks.
In focus stocks, Tesla Optimus released an official video, revealing details related to Optimus, including the development environment, reduction gear, and dexterous hand designs. Tesla Optimus stated that it would fundamentally change the economic landscape of labor and manufacturing. Musk indicated that Optimus 3 is expected to begin production this summer, with mass production anticipated by 2027. Tesla (NASDAQ: TSLA) rose by 0.8%.
Shares of Amazon and Nvidia rose by 2%, while British chip design company ARM launched its own chips, stimulating ADR stocks to soar by 16.4%.
The Iranian Islamic Revolutionary Guard Corps stated on Wednesday that its air defense forces shot down a U.S. F-18 fighter jet in the southeastern airspace, causing the aircraft to crash into the Indian Ocean.
Iran’s Fars News Agency reported on Wednesday (25th) citing sources that Iran would reject the U.S. proposed ceasefire and continue attacks against Israel and Gulf Arab states, stating that Trump’s indirect negotiation approach at this stage of conflict lacks logic and is impractical. They emphasized that Iran is focused on achieving its goals, and only when these goals are realized can the war potentially end, not merely through a ceasefire. This news helped control the downward trend in oil prices, with New York crude falling as much as 6.38%, closing at $90.32, and Brent crude briefly dropping 7% to $97.15, closing at $102.22, a decline of 2.2%.
Iranian state media Press TV quoted the Iranian Atomic Energy Organization reporting that the Bushehr nuclear power plant was attacked again at 9 PM local time on Tuesday. The plant was previously attacked in mid-March, at which time the IAEA stated that the reactor itself was not damaged.
Iran reiterated that non-hostile vessels can safely pass through the Strait of Hormuz as long as they are coordinated. Marine Traffic data show that nine vessels have passed through the Strait of Hormuz since Monday (23rd).
Spot gold prices rose as much as 2.83%, reaching $4,602.34; Bitcoin rose by 2.79% to $72,013.
Memory stocks fell sharply, with Micron (NASDAQ: MU) down 3.4% and Sandisk (NASDAQ: SNDK) down 3.5%. The declines were mainly influenced by news that South Korean semiconductor giant SK Hynix plans to list in the U.S.
Foreign media reported that SK Hynix has submitted confidential filing materials to the U.S. Securities and Exchange Commission (SEC), planning to issue American Depository Receipts (ADRs) within the year. A spokesperson for SK Hynix responded that multiple measures to enhance shareholder value, including issuing ADRs, are currently under consideration, but no final decision has been made.
The Hong Kong stock market and ADR updates are ongoing, for details please see: Next Page
Market Movement:
【22:40】Dow rose by 371 points.
【21:30】Brent crude fell 5% below $100; Dow rose by 580 points, Nasdaq rose by 1.2%; Micron fell by 6%.
【17:55】Iran war negotiations “warming up”; Dow futures rose by 365 points, Nasdaq futures rose by 1%; Brent crude fell 4%, dropping below $100.
【14:54】Dow futures rose by 339 points, reaching 46,754 points; S&P futures rose by 42 points to 6,648 points; Nasdaq futures rose by 160 points or 0.7% to 24,374 points.
【14:54】New York crude fell by 3.4%, reaching $89.2; Brent crude fell by 4%, reaching $100.3. New York gold futures rose by 3.3%, reaching $4,578, while spot gold rose by 1.7% to $4,549.
【13:57】【AI + Sora】OpenAI suddenly halted Sora AI video generation, shocking the market; Disney was informed just 30 minutes after the project meeting, and OpenAI had promoted Sora a day earlier.
【13:52】【AI + IPO】SK Hynix plans to list in the U.S. this year; it has submitted a filing to the SEC and is rumored to raise as much as $10 billion.
【13:32】【U.S. Stock Analysis】The U.S. proposed a ceasefire agreement to Iran, and Dow futures rose by over 300 points; analysis: Trump’s TACO, and the market still needs to pay attention to two major issues.
【11:01】【Iran Situation】JPMorgan’s Dimon: The conflict may ultimately promote lasting peace in the Middle East, as the interests of regional powers align.
【10:48】【U.S.-China Relations】China Investment Corporation reportedly considering reallocating to U.S. asset management firms.
【10:26】【AI + AAPL】Siri is no longer just a voice assistant? Apple’s Siri upgrades to a chat robot, adding the “Ask Siri” feature, expected to be unveiled at June’s WWDC.
【10:00】【Yen Movement】The yen traded at 4.93 against the Hong Kong dollar; Japanese officials reiterated that they would take all necessary measures to respond to currency fluctuations.
【09:58】【U.S. Rate Cuts】Federal Reserve Board member Barr: Rates may need to remain unchanged for “some time”; the Middle East situation poses “additional risks.”
【09:39】【Gold Price Movement】Gold prices halted a nine-day decline! Spot gold rebounded above the $4,500 level; in Hong Kong, the price for every two taels of gold rose by $1,800 in one day.
【08:54】【ARM + Chips】Arm rose 8% after hours and will sell its own chips for the first time, anticipating approximately $15 billion in annual revenue within five years, with Meta as its first major customer.
【08:26】【IPO of New Stocks】Reports say SpaceX plans to submit an IPO application as early as this week, potentially raising over $75 billion.
【08:23】【Iran Crisis】Trump: Iran will deliver a major gift today; Rubio and Vance are involved in negotiations; the premise is “they must never have nuclear weapons.” (Updates ongoing)
【08:01】【AI + AMZN】Software stocks hit again; reports indicate Amazon is developing a new type of AI agent to replace some departmental functions.
$1 or less for March 24 U.S. stock market conditions====
Tuesday: U.S. reportedly seeks negotiations with Iran on Thursday; Brent oil stabilizes, and the Dow’s decline narrows.
Multiple U.S. media outlets reported that the U.S. is in contact with Iran regarding a ceasefire plan, with Axios reporting that the U.S. and mediators are discussing the possibility of high-level talks on Thursday, but they are still waiting for Tehran’s response.
Latest U.S. Stock Market Closing:
Iranian officials denied Trump’s claims of behind-the-scenes negotiations but confirmed that the U.S. has issued messages and proposals.
Oil prices remained cautious, with Brent crude rising 0.2% to close at $100.17, and New York crude rising 4.8% to close at $92.35.
Gold prices rebounded, with spot gold rising 1.6% to close at $4,475.51, while spot silver remained relatively stable at $71.2194.
The dollar index rose 0.3% to 99.23, while the U.S. 10-year yield remained elevated at 4.36%.
U.S. stocks were soft, with the Dow falling by 438 points to a low of 45,769 points, and closing down 84 points at 46,124 points; the S&P fell 0.4%, closing at 6,556 points, and the Nasdaq dropped 0.8%, closing at 21,761 points.
Trump has postponed the ultimatum by 5 days, but sporadic attacks between Israel and Iran continue. The Prime Minister of Pakistan has expressed willingness to host U.S.-Iran talks to resolve the ongoing conflict.
Market news indicates that Iran has started charging transit fees for some merchant ships passing through the Strait of Hormuz, collecting fees on a per-voyage basis, with a maximum of $2 million per trip, effectively establishing an informal “toll” on this waterway. Reports indicate that some vessels have already paid the relevant fees, but the specific payment mechanism is unclear, including what currency is used.
Iran’s Tasnim News Agency reported on Tuesday that a vessel flying the Thai flag successfully passed through the Strait of Hormuz after close coordination with Iranian authorities.
According to Israeli media Ynet, the U.S. has set April 9 as the target date for ending the war with Iran, implying that there will be more than half a month for combat and negotiations, as Washington aims to conclude hostilities by the end of April.
Reports suggest that if the conflict ends as scheduled around April 9, Trump plans to visit the area around Israel’s Independence Day on May 14. Currently, countries like Pakistan are actively mediating, attempting to arrange indirect communication between the U.S. and Iran, with preliminary contacts possibly taking place in Pakistan this week, although neither side has formally confirmed it.
In addition, according to reports from Russian media cited by CCTV, Omani journalist and international relations researcher Salem Al-Jahuri confirmed on the BBC Arabic channel that the U.S. is pressuring Gulf countries to pay substantial costs for U.S. involvement in the Iran conflict.
The report mentioned that Trump is demanding large “protection payments” from Arab allies, either paying $50 trillion (approximately 390 trillion Hong Kong dollars) to continue the conflict or $25 trillion (approximately 195 trillion Hong Kong dollars) to end the war, claiming it is compensation for “achieved results.”
The Hong Kong stock market and ADR updates are ongoing, for details please see: Next Page
Market Movement:
【22:50】Reports say Iran is charging “toll fees” to merchant ships passing through the Strait of Hormuz; the Dow fell by 88 points, Nasdaq fell by 0.6%, and oil prices rose by 3%.
【21:30】Pakistan indicates it is ready to host U.S.-Iran talks; the Dow fell by 338 points, Nasdaq fell by 0.6%, and oil prices rose by 4%.
【18:00】【Iran Crisis】Is there hope for a U.S.-Iran war resolution? Reports say Trump is demanding exorbitant protection payments: $25 trillion to end the war.
【16:00】【Iran Crisis】Reports say the U.S. has set April 9 as the “end date” for hostilities; Iran continues to deny this.
【14:00】Dow futures fell by 258 points, reaching 46,264 points; S&P futures fell by 38 points to 6,596 points; Nasdaq futures fell by 150 points or 0.6% to 24,258 points.
【14:00】Oil prices rebounded, with New York crude at $91.6, rising nearly 4%, and Brent crude at $103.4, rising 3.4%. Gold prices continued to decline, with New York futures down 0.9% at $4,400, and spot gold down 1.1% at $4,357.
【14:00】【Iran Crisis】DBS: Gold prices are likely to be constrained in the short term due to continued volatility from the Middle East conflict, maintaining a year-end target of $6,250.
【13:23】【AI + OpenAI】Reports say OpenAI has offered generous terms to private equity firms, guaranteeing a 17.5% minimum return to compete in the enterprise AI market.
【13:08】【OnlyFans】OnlyFans billionaire owner Leonid Radvinsky has passed away due to cancer at age 43.
【12:34】【Gold Price Movement】Gold prices have softened after nine consecutive declines; in Hong Kong, the price for every two taels of gold has fallen below $40,000.
【12:15】【Switch 2】Nintendo plans to cut Switch 2 production by approximately 33% this season; the reduction may continue until April.
【11:51】【Gold Price Movement】Gold prices have fallen over 20% from recent highs, entering bear market territory; Morgan Stanley states that funds are flowing from safe-haven assets to the stock market, which is a positive signal for U.S. stocks.
【11:19】【Iran Crisis】The city government ordered an assessment of the oil-related products supply chain to respond to the crisis; the Ministry of Finance reportedly consulted the market regarding possible intervention in crude oil futures.
【10:36】【AI + Investment】BlackRock CEO: The AI wave may exacerbate wealth inequality; investors should hedge against the impact through holdings.
【08:37】【AI + OpenAI】OpenAI stated in investor documents that its reliance on Microsoft poses risks; what other risks exist?
【08:08】【Iran Crisis】Federal Reserve official Daly: The U.S. economy is facing at least two possible scenarios; the Fed needs to maintain flexibility to respond to risks.
【07:48】【AI + Apple】Apple’s annual Worldwide Developers Conference (WWDC) will take place from June 8, expected to announce a series of AI features.
【06:32】【Iran Crisis】Iranian parliamentary speaker denies having negotiated with Trump; British destroyer “Dragon” arrives in the Mediterranean (updates ongoing).
$1 or less for March 23 U.S. stock market conditions====
Monday: Trump’s statements are still questioned; Dow’s gains reduced to half at 631 points, oil prices continue to fall by 10%.
Former President Trump claimed to be negotiating with Iran, temporarily delaying strikes on power plants, which stimulated oil prices to fall and the stock market to rebound. The Dow was up 1,134 points, peaking at 46,712 points, the S&P was up 2.2%, peaking at 6,651 points, and the Nasdaq was up 2.5%, peaking at 22,189 points. The closing gains were narrowed, with the Dow closing up 631 points at 46,208 points, the S&P up 1.1% at 6,581 points, and the Nasdaq up 1.4% at 21,946 points.
Latest U.S. Stock Market Closing:
Oil prices fell by as much as 14.1%, closing down 10%, with New York crude at $88.13 and Brent crude at $100.5. Spot gold prices fell by 7%, hitting a low of $4,099.18, closing down 1.9% at $4,407.18.
Macquarie Group’s global foreign exchange and interest rate strategist Thierry Wizman stated, “We remain cautiously skeptical about the news of an impending ‘breakthrough’ and associated tweets this morning,” believing that the war is unlikely to continue beyond April, as Iran’s threat may be diminished by then, but large-scale military actions are also not expected to conclude within this week.
Trump stated on the social media platform TruthSocial that negotiations with Iran have been going well over the past two days, and he instructed the U.S. war department to suspend all military strikes on Iranian power plants and energy infrastructure for 5 days, based on the successful progress of ongoing meetings and discussions.
Trump later indicated that the two countries had reached multiple consensuses during negotiations and had discussed candidates for Iranian leadership, stating that Iran had agreed to abandon nuclear weapons. However, he also mentioned that if U.S.-Iran talks broke down, bombing actions would continue.
However, Iran’s Tasnim News Agency later quoted Iranian sources stating that the U.S. and Iran had not engaged in any negotiations and that no negotiations were currently taking place. They also indicated that U.S. attacks continued and that the Strait of Hormuz would not return to the state before the conflict. Another agency, Mehr, later quoted Iranian Foreign Ministry sources stating that Trump’s comments aimed to lower energy prices and buy time for his military plans.
The Iranian Foreign Ministry later stated that there were some initiatives to ease tensions, but Iran’s response is that the U.S. should be the dialogue partner, as the war was not initiated by Iran.
Trump subsequently responded further, stating that negotiations took place on Sunday (22nd) night, emphasizing that Iran urgently wishes to reach an agreement, expressing uncertainty as to why Iranian media would refute his statements.
T. Rowe Price indicated that after the attack on Iran, gold prices saw a typical safe-haven surge, but the momentum could not be sustained, as the market quickly reinterpreted the nature of the events. Investors did not view it as a sustained geopolitical shock but rather more as an inflationary event driven by energy prices. This shift raised real interest rates, strengthened the dollar, and weakened market expectations for rate cuts, all of which are unfavorable for gold performance.
Before the event, gold prices had already accumulated considerable gains, limiting the inflow of new safe-haven capital. The expected trend of gold prices will still be influenced by both macro and geopolitical factors. In the short term, the direction of real interest rates and central bank policy expectations will be crucial, while attention should also be paid to energy prices and dollar movements. The bank continues to view gold as a strategic asset rather than a short-term trading tool. Structural demand from central banks, combined with unclear policy prospects, provides some support for gold prices, although short-term price movements may still remain volatile.
The Hong Kong stock market and ADR updates are ongoing, for details please see: Next Page
Market Movement:
【22:15】Trump: If U.S.-Iran talks break down, bombing actions will