US stock exchanges displayed varied performance on Wednesday. At the close in New York, the Dow closed at 52,348 points, marking a decline of 1.1 percent compared to the previous trading day. Shortly before that, the broader S&P 500 was down 0.3 percent, registering around 7,483 points, while the technology exchange, the Nasdaq 100, climbed 0.3 percent to approximately 29,253 points.
The trading focus on Wednesday was split between the risks posed by the end of the ceasefire between the US and Iran, and investors’ attempts to glean insights into future interest rate policy from the newly published minutes of the US Federal Reserve meeting. Most participants anticipated that inflationary pressures would soon recede. While many indicated a preference for a slightly lower key interest rate, several others favored a hike. However, the meeting took place under the shadow of the agreement reached between the US and Iran, given that a prolonged closure of the Strait of Hormuz could lead to higher inflation.
In currency markets, the Euro strengthened slightly by Wednesday evening; one Euro cost 1.1425 US dollars, meaning the Dollar was priced at 0.8753 Euros. Gold prices declined, with a fine ounce trading at 4,079 US dollars in the evening, representing a 0.7 percent drop, which equates to 114.80 Euros per gram. Conversely, oil prices rose sharply. A barrel of North Sea Brent crude cost 78.79 US dollars around 10 PM Central European Time Wednesday, marking a jump of 6.2 percent from the previous day’s close.
