US stock markets continue to fall at weekly close

On Friday, the New York Stock Exchange continue to decrease amid escalating war tensions, which cause inflationary concerns and decrease hopes for near-term interest rate cuts.

The Dow lost 0.96%, or 443.96 points, to close at 45,577.47.

The Nasdaq composite fell 2.01%, or 143.08 points, to 21,647.61, while the S&P 500 dropped 1.51%, or 100.01 points, to 6,506.48.

The Volatility Index (VIX), often referred to as the market’s “fear index,” rose by 11.31% to 26.78.

As news regarding the ongoing tensions in the Middle East, fluctuations in oil prices, and monetary policy decisions remained in the spotlight, equity markets followed a negative trend.

The disruption of traffic in the Strait of Hormuz and supply concerns resulting from US and Israeli attacks on Iran and Iran’s retaliatory strikes continued to put pressure on markets due to rising oil prices.

This week, the Fed, the ECB, the BoE and the BoJ kept policy interest rate constant warning that Iran war may cause price hikes globally.

As of 2145GMT, the price of Brent oil was at above $112.3, up around 3.4%, while West Texas Intermediate (WTI) crude oil rose by 2.6% to $98.1 per barrel.

- European stocks

The stock markets in Europe also saw decreases Friday, with the pan-European Stoxx Europe 600 index fell 1.78% to close at 573.28 points.

The UK’s FTSE 100 decreased 1.44% to 9,918.33, Germany’s DAX 40 declined 2.01% to 22,380.19, and France’s CAC 40 lost 1.82% to 7,665.62,

Italy’s FTSE MIB 30 was down 1.97% to finish at 42,840.90, while Spain’s IBEX 35 posted a decline of 1.14% to 16,714.