American stock markets witnessed major ups and downs due to the statement given by US President Donald Trump regarding the end of the war with Iran. On Monday, there was a big fall in the Wall Street stock market in the beginning, but later the market recovered and closed with gains. This improvement came in the last hour of trading, when Trump indicated that the ongoing war between America and Israel against Iran could end soon.
After Trump’s statement, all three major stock indices rose at the end of trading. On Monday, Dow Jones closed at 47,740.80, rising 239.25 points (0.50%). The S&P 500 rose 55.97 points (0.83%) to 6,795.99. Whereas Nasdaq increased by 308.27 points (1.38%) and closed at 22,695.95. 9 out of 11 sectors of S&P 500 closed with gains. Shares of technology companies had the biggest rise, while there was a decline in the financial and energy sectors. Philadelphia Semiconductor Index also made a good return. Shares of chip makers SanDisk, Broadcom and Nvidia rose by 2.7% to 11.7%.
Will there be a boom in the Indian market also?
Donald Trump’s recent statements, fall in crude oil prices and positive trend of the global market are being considered as good signs for the Indian stock market. There was a rise in Asian stock markets at the beginning of trading on Tuesday. Most of the markets were seen trading in the green. Now it will be interesting to see whether the Indian market will also see a rise?
Trump gave this statement
Trump said in his statement that the war has progressed far beyond his estimated timeline. At the beginning of the day, oil prices had reached their highest level since mid-2022. The reason for this was the obstruction in the movement of ships and reduction in oil supply due to the war. If energy prices continue to rise, it could lead to further inflation, while many people in America are already troubled by rising prices. However, crude oil prices later fell as news came that the Trump administration was considering relaxing the oil sanctions imposed on Russia.
Also read- US-Iran War: Trump’s statement changed the game, crude oil became cheaper in one stroke