PiCK
"Ceasefire talks uncertainty" drags major indexes lower across the board…Salesforce -6% [New York market briefing]
Summary
- It reported that major New York stock market indexes closed broadly lower due to uncertainty over ceasefire talks between the United States and Iran.
- It reported that international oil prices rose in the 4%% range per barrel and that escalating Middle East war tensions weighed on investor sentiment.
- It reported that on news Amazon is developing its own generative AI, Salesforce fell more than 6%% and selling pressure spread mainly across the software sector.
Forecast Trend Report by Period
Major U.S. stock indexes on the New York market fell across the board as uncertainty deepened over ceasefire talks between the United States and Iran.
On the 24th (local time), at the New York Stock Exchange, the Dow Jones Industrial Average closed at 46,124.06, down 84.41 points (0.18%) from the previous session.
The S&P 500, which tracks large-cap stocks, fell 24.63 points (0.37%) to 6,556.37, while the tech-heavy Nasdaq Composite dropped 184.87 points (0.84%) to end at 21,761.89.
Markets showed signs of rising tension over the war in the Middle East after U.S. President Donald Trump said talks related to a ceasefire with Iran had begun, but Iran officially denied that there had been any direct talks between the two countries.
Investor sentiment was hit particularly hard after reports that the United States is planning to deploy a brigade combat team from the 82nd Airborne Division, the Army’s elite airborne unit, to the Middle East.
International oil prices also turned higher again. Brent crude futures for May delivery settled at $104.49 a barrel, up 4.6% from the previous session. U.S. West Texas Intermediate (WTI) futures for May delivery closed at $92.35 a barrel, up 4.8%.
By stock, among the "M7" mega-cap tech names, AI bellwether Nvidia closed at $175.20, down $0.44 (0.25%) from the previous trading day.
Elsewhere, Tesla (0.57%) and Apple (0.06%) posted modest gains, while Alphabet (-3.85%), Amazon (-1.38%), Microsoft (-2.68%) and Meta (-1.84%) declined.
Salesforce fell more than 6%. A sell-off centered on software stocks followed news that Amazon is developing its own generative AI. Chip designer Arm slipped 1.4% after announcing it would produce its own AI chips.
The Philadelphia Semiconductor Index closed at 7,872.71, up 99.58 points (1.28%) from the previous session. On the Chicago Board Options Exchange (CBOE), the Volatility Index (VIX) surged 0.8 points (3.06%) to 26.95.
Reporter Roh Jeong-dong, Hankyung.com dong2@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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