more than 1.5 percent

Sharp decline on Wall Street

Photo: Pixabay

On Wall Street, stock market indices fell more than 1.5 percent on Thursday as the crisis in the Middle East continues to escalate, causing oil prices to rise sharply again.

The Dow Jones Industrial Average fell 1.56 percent to 46,677 points, while the S&P 500 fell 1.52 percent to 6,672 points, and the Nasdaq Composite index fell 1.78 percent to 22,311 points.

Although US President Donald Trump said that the US and Israel had won the war against Iran, the crisis in the Middle East is not abating, Hina reports.

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Iran continues to block tankers from passing through the Strait of Hormuz, causing oil prices to rise sharply for the second day in a row, by more than nine percent.

At the same time, the price of a barrel on the London market once again broke above the psychologically important threshold of 100 USD.

Stock prices fell in most of the 11 major sectors of the S&P 500 index, with industrials the biggest loser, down 2.5 percent. The energy sector rose 1 percent.

In addition to oil company stocks, the share prices of several weapons manufacturers have also risen significantly.

European stock markets also fell. London's FTSE index fell 0.47 percent to 10,305 points, while Frankfurt's DAX slipped 0.21 percent to 23,589 points, and Paris' CAC fell 0.71 percent to 7,984 points.

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