Iran said that it will continue to shut off the Strait of Hormuz, causing Brent to surge past USD100, and all three major US stock indices to close at troughs so far this year on Thursday.

The DJIA waned radically, closing down 739 points or 1.6% at 46,677, near its daily low. The Nasdaq closed down 404 points or 1.8% at 22,311. The S&P 500 sank 103 points or 1.5% to 6,672.

With soaring oil prices, airlines came under pressure, with American Airlines (AAL.US) and United Airlines (UAL.US) sagging over 4%, and Delta Air Lines (DAL.US) losing 2%. In contrast, oils benefited, with Chevron (CVX.US) and ExxonMobil (XOM.US) soaring 2.7% and 1.3%, respectively.

Banks deteriorated, with Morgan Stanley (MS.US) slipping 4.1% amid reports of the company restricting redemptions from a private credit fund. Bank of America (BAC.US) dived nearly 3%, and JPMorgan (JPM.US) shed over 1%.

Big techs declined, with Tesla (TSLA.US) down 3.1%, Meta (META.US) down 2.6%, Apple (AAPL.US) down about 2%; and NVIDIA (NVDA.US), Alphabet (GOOG.US), and Amazon (AMZN.US) down over 1%. Microsoft (MSFT.US) fell less than 1%.
~



AASTOCKS Financial News
Website: www.aastocks.com

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