Oil prices on Trump remarks 6%↑; global markets rocked as Dow futures fall
Shortly after President Trump said the memorandum of understanding (MOU) with Iran was 'over,' international oil prices surged by 6% or more to reach a high for 2weeks, while Dow futures and major stock indexes weakened, also affecting the dollar and pound. Among individual stocks, Micron and SanDisk shares fell further.
Global financial markets reacted immediately after President Trump said the memorandum of understanding (MOU) with Iran was "over." International oil prices rose by more than 6%, reaching a high for 2weeks. Crude oil is an asset whose price responds quickly when concerns about supply grow.
U.S. Dow futures fell, and major indexes also weakened in the spot market. Some technology and memory-related stocks came under selling pressure, while Micron and SanDisk continued their consecutive declines.
The dollar held at a high for a week, while the pound reached a high against the dollar in 3weeks. In currency markets, flows between safe-haven and risk assets diverged depending on geopolitical news.
Following these remarks, several stocks were observed to have increased trading value and volatility. Investors are closely monitoring short-term movements in oil prices and major indices.
Market participants are watching for additional political and diplomatic announcements and changes in physical supply indicators. As volatility has increased in the immediate term, it is necessary to check whether the related news flow continues.
Sources: Reuters,Yahoo Finance
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