US stock markets experienced declines on Wednesday. By the close of trading in New York, the Dow Jones industrial average reached 52,380 points, marking a decrease of 0.8 percent compared to the previous trading day. Just moments before, the broader S&P 500 was down 0.5 percent at approximately 7,635 points, while the Nasdaq 100 index was calculated at around 29,420 points, down 0.3 percent.
On Wall Street, the oil price was a dominant factor. The recovery of oil prices to above the 100-dollar mark stirred investor concerns. Many traders are worried about persistently high energy costs due to the escalating tensions in the Iran conflict. This tension came after Iran attacked ten ships near the Strait of Hormuz on Wednesday, following a previous incident where the US military sank five Iranian oil tankers.
Conversely, the European common currency showed some strength on Wednesday evening. The euro traded at 1.1629 US dollars, while the dollar was valued at 0.8599 euros.
The price of gold saw a positive trend, with fine ounces trading at $4,398 by the evening, reflecting a gain of 1 percent. This equates to 121.59 euros per gram.
Meanwhile, the oil price surged significantly. By 10 PM Central European Time on Wednesday, a barrel of Brent crude from the North Sea was priced at $101.40, an increase of 3.6 percent from the previous day’s closing price.
