The S&P 500 Index is down 0.64%, the Dow Jones Industrial Average has decreased by 0.16%, and the Nasdaq 100 Index has dropped 1.05% today. WTI crude oil prices have surged over 3%, driven by rising tensions in Iran, leading the 10-year T-note yield to climb by 3 basis points to 4.36%. If diplomatic talks fail by President Trump’s weekend deadline, military escalation from the U.S. seems imminent.
In the labor market, U.S. weekly initial jobless claims rose by 5,000 to 210,000, matching expectations, while continuing claims fell by 32,000 to a 1.75-year low of 1.819 million. This indicates a stronger labor market than anticipated. Meanwhile, the OECD has revised its G-20 inflation forecast for 2026 up to 4.0%, attributed to ongoing tensions in Iran that are disrupting approximately 7.5% of global oil supply and threatening significant price increases.
Overseas markets also reflect this downturn, with the Euro Stoxx 50 down 0.86% and China’s Shanghai Composite closing down 1.09%. Chipmakers like Sandisk and Lam Research fell over 7% amid concerns about new AI technology, while mining stocks dropped due to decreasing gold and silver prices.
