U.S. stock markets experienced a decline on Tuesday. At the close in New York, the Dow Industrial Average was calculated at 52,093 points, marking a decrease of 0.6% compared to the previous trading day. The broader S&P 500 was down 0.5% with approximately 7,586 points, while the technology-focused Nasdaq 100 registered a 0.7% loss at around 28,938 points.
In the financial spotlight, the U.S. central bank commenced its two-day meeting, with market participants anticipating an increase in key interest rates. This expectation is driven by persistent high inflation, which is currently being fueled by elevated oil prices. Adding to the pressure on investors were concerns over the high yields on 10-year government bonds, although U.S. Treasury Secretary Scott Bessent expressed satisfaction with the government bond buyback program. Furthermore, the debate surrounding the security of “Artificial Intelligence” continues to serve as a pressure point.
The European common currency weakened slightly on Tuesday evening. The Euro traded at $1.1540, meaning the dollar could be acquired for 0.8666 Euros.
In commodity markets, the gold price showed little change, with a fine ounce priced at $4,298 in the evening, equivalent to €119.74 per gram. Conversely, the price of oil rose sharply. By 10 p.m. German time on Tuesday, a barrel of Brent crude from the North Sea cost $108.80, representing a 2.9% increase from the previous day’s closing price.
