World shares mostly fell and oil prices gained Friday following Wall Street’s worst day since the start of the Iran conflict, fueled by increasing uncertainty about de-escalation efforts.
Global Market Performance
In early European trading, Britain’s FTSE 100 fell 0.3% to 9,939.96. France’s CAC 40 dropped 0.7% to 7,718.97, and Germany’s DAX lost 1.3% to 22,314.28.
Asian markets showed mixed results. Tokyo’s Nikkei 225 closed 0.4% lower at 53,373.07. South Korea’s Kospi also lost 0.4% to 5,438.87, while Hong Kong’s Hang Seng rose 0.4% to 24,951.88 and the Shanghai Composite index traded 0.6% higher at 3,913.72.
Australia’s S&P/ASX 200 fell 0.1% to 8,516.30. Taiwan’s Taiex was 0.7% lower, and India’s Sensex lost 2.1%.
Wall Street’s Decline
On Thursday, Wall Street experienced its largest drop since the beginning of the Iran conflict. The S&P 500 sank 1.7% to 6,477.16, marking its worst day since January. The Dow Jones Industrial Average fell 1% to 45,960.11.
The Nasdaq composite slumped 2.4% to 21,408.08, and is now 10% below its recent all-time high, which is considered a “correction.”
De-escalation Concerns
Expectations for de-escalation negotiations between Washington and Tehran earlier in the week have contributed to market instability.
U.S. President Donald Trump announced Thursday he was postponing a threatened attack on Iran’s energy facilities and further delayed a deadline for Iran to reopen the Strait of Hormuz until April 6. The Strait of Hormuz is a critical waterway for oil and gas transport.
U.S. futures were largely unchanged on Friday.
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