US markets experienced gains on Wednesday, driven by positive performance across key indices. The Dow Jones Industrial Average closed at 34,193 points, marking a 0.2% increase from the previous trading day.
Earlier in the session, the broader S&P 500 reached approximately 4,345 points, showing a 0.7% rise. The Nasdaq Composite saw even stronger gains, reaching around 14,515 points, up 1.3% at that time.
Adding a layer of complexity to the market landscape, President Donald Trump announced the implementation of additional tariffs on Indian imports. These tariffs, amounting to 25%, will apply to a range of products, with some categories facing an even higher rate of 50%. The move, according to the administration, is linked to India’s oil imports from Russia, which currently ranks as the world’s second-largest consumer of Russian fossil fuels. The US government is signaling further tariff measures against other nations if a ceasefire agreement isn’t reached between Russia and Ukraine by the expiration of a ten-day period initiated on July 29th.
The euro strengthened against the dollar, trading at $1.1653, with a dollar fetching €0.8581.
Gold prices weakened, with a fine ounce trading at $2,371 (down 0.4%), equivalent to €92.99 per gram.
Crude oil prices saw a significant decline. Brent North Sea crude traded at $80.66 at approximately 10:00 PM local time, a decrease of 98 cents or 1.5% compared to the previous day’s closing price.
