U.S. stock markets fell sharply on Thursday. At the close in New York, the Dow Industrial Average traded at 46,678 points, down 1.6 % from the previous day. Several minutes earlier, the broader S&P 500 was around 6,673 points, a decline of 1.5 %, while the Nasdaq 100 stood near 24,534 points, down 1.7 %.
The price of oil moved higher. By 21:00 Central European Time, a barrel of North Sea Brent was priced at $101.30, an increase of 10.2 % compared with the previous day’s end.
The rally came against the backdrop of a statement from Iran’s new religious leader, Mohsen Chamenei. In his remarks he called for vengeance on war victims and demanded that the Strait of Hormuz remain closed, citing its importance for oil transport.
U.S. President Donald Trump maintained his hardline approach toward Iran. In a post on his personal platform he wrote, “The United States is by far the world’s largest oil producer. When oil prices rise, we make a lot of money. But as president, it is far more important to prevent an evil empire like Iran from acquiring nuclear weapons and destroying the Middle East-and even the entire world”.
The euro weakened at the end of Thursday. One euro amounted to $1.1516, meaning one dollar could be exchanged for 0.8684 euros.
The price of gold also slipped. In the evening trades, a troy ounce fetched $5,088, down 1.0 %, which equals €142.05 per gram.
