Major indices continued to decline across global stock markets, APA-Economics reports.
In the US, the Dow Jones index fell by 419.02 points, or 0.79%, to 52,766.88 points; the S&P 500 declined by 54.67 points, or 0.71%, to 7,631.47 points, while the Nasdaq Composite dropped by 271.12 points, or 1.03%, to 26,099.77 points. The NYSE Composite fell by 0.46% to 24,349.28 points, while Canada’s S&P/TSX Composite index declined by 1.23% to 35,825.73 points.
In Europe, the Euro Stoxx 50 fell by 0.80% to 6,368.98 points, the UK’s FTSE 100 index declined by 0.32% to 10,789.28 points, while Germany’s DAX index dropped by 1.10% to 25,970.11 points. France’s CAC 40 index fell by 0.39% to 8,301.85 points, while Spain’s IBEX 35 index declined by 0.75% to 19,824 points.
The decline was sharper in the Asia-Pacific region. Japan’s Nikkei 225 index fell by 2.75% to 64,394.94 points, while the TOPIX declined by 2.16% to 4,091.58 points. Hong Kong’s Hang Seng index fell by 1% to 25,076.73 points, China’s CSI 300 index declined by 1.25% to 4,553.99 points, while Australia’s S&P/ASX 200 index dropped by 1.22% to 8,955.70 points.
The decline in stock markets is attributed to the renewed escalation of the military confrontation between the US and Iran, rising oil prices, and higher bond yields. The rise in oil prices following new US strikes on Iran has increased concerns over inflation. The yield on 10-year US Treasury bonds exceeded 4.8%, reaching its highest level in recent years.
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