PiCK
US Stocks Edge Lower as Uncertainty Grows Ahead of Second US-Iran Truce Talks
Summary
- Major New York stock indexes closed slightly lower as uncertainty over a second round of truce talks between the US and Iran weighed on sentiment.
- Amid tensions between the US and Iran, international Brent crude and WTI futures prices surged 5.64%% and 6.87%%, respectively.
- Tech stocks were mixed, with gains in Nvidia and Apple and losses in Meta, Tesla, Alphabet, Microsoft and Amazon.com.
Forecast Trend Report by Period
Brent Jumps 5.64%, WTI Gains 6.87%
US stocks ended slightly lower as uncertainty mounted ahead of a second round of truce talks between the US and Iran.
The Dow Jones Industrial Average fell 4.87 points, or 0.01%, to 49,442.56 on April 20 at the New York Stock Exchange. The S&P 500 dropped 16.92 points, or 0.24%, to 7,109.14, while the Nasdaq Composite lost 64.09 points, or 0.26%, to 24,404.39.
President Donald Trump, in a phone interview with Bloomberg on April 20, again pressed Iran to reach a deal, saying the two-week ceasefire would end on Wednesday evening, April 22, Washington time.
He also said Vice President JD Vance would leave for Pakistan that day for talks with Iran, adding that the second round of negotiations would begin on April 21.
Iran, meanwhile, did not clearly indicate whether it would take part in the talks. Iran's Tasnim News Agency reported that Foreign Minister Abbas Araghchi discussed the ceasefire by phone that evening with Pakistani Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar.
Araghchi criticized what he called Washington's contradictory position and threatening rhetoric toward Iran as fundamental obstacles to continuing the diplomatic process.
He said Iran would decide how to proceed after considering all aspects of the matter, signaling that it was still weighing whether to join the second round of talks on April 21.
Iran had agreed on April 17 to reopen the Strait of Hormuz in line with a ceasefire agreement involving Israel and Lebanon. It closed the waterway again the following day, citing the US maritime blockade against Iran.
The US fired on an Iranian cargo vessel near the Strait of Hormuz that was attempting to break the blockade and seized the ship.
Oil prices surged. Brent crude futures for June settlement rose 5.64% to $95.48 a barrel, while US West Texas Intermediate crude futures for May delivery climbed 6.87% to $89.61.
Tech stocks were mixed. Nvidia rose 0.19% and Apple gained 1.04%. Apple said Chief Executive Officer Tim Cook would become chairman of the board and Senior Vice President of Hardware Engineering John Ternus would be appointed the next CEO.
Meta fell 2.56%, Tesla lost 2.03%, Alphabet dropped 1.25%, Microsoft declined 1.12% and Amazon.com slid 0.91%.
Lee Su, Hankyung.com reporter 2su@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.
