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U.S. stocks close | Iran claims nuclear facility attacked, fears of escalation grow, Dow drops 793 points, oil prices rise again, US dollar surpasses 100
Former President Trump of the United States announced a further 10-day delay in striking Iranian power plants, which did not ease market concerns. Instead, worries that the prolonged conflict would impact oil supply intensified global economic shocks, with attention on the possibility of central banks worldwide entering a rate hike cycle.
Market Close Overview:
Iran stated that its nuclear facilities were attacked by U.S. and Israeli airstrikes, including a facility with a heavy water reactor and a production plant for uranium processing material “yellowcake.” Iran’s two largest steel mills were also hit, and Iranian officials said they were considering withdrawing from the Nuclear Non-Proliferation Treaty; the conflict is likely to escalate, with U.S. long-term bond yields rising, and the Dow Jones Industrial Average fell nearly 900 points on Friday.
The Dow closed at 45,166 points, down 793 points, the S&P 500 fell 1.67%, and the Nasdaq dropped 2.15%. Meta and Amazon’s stock prices fell 4%, while Tesla dropped 2.8%.
Spot gold prices rebounded by as much as 4.09%, settling at $4,554.93. The yield on U.S. 10-year Treasury bonds was reported at 4.433%, marking an 8-month high; the yield on 20-year Treasuries even surpassed 5%, the first time since July of last year.
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Oil prices initially fell before rebounding; New York crude oil had dropped 2.54% but closed up 5.46% at $99.64, while Brent crude oil rose 4.22% to close at $112.57.
Funds continued to flow into the dollar as a safe haven, with the U.S. dollar index surpassing 100. LGT Royal Bank (Asia) indicated a neutral position on the dollar from a tactical standpoint, considering that the U.S., as the largest net energy exporter in the world, benefits from more favorable trade conditions during the current energy crisis, while also reflecting the dollar’s defensive asset status amid market volatility. Given the current inflation situation, we believe the Fed’s room for rate cuts is more limited than before; under the bank’s baseline scenario, only one rate cut is expected by 2026, lower than the previously anticipated one to two cuts.
The bank expects that within 6 to 12 months, assuming energy transportation through the Strait of Hormuz gradually returns to normal, the market will start to resume the trend of diversifying away from the dollar, exerting moderate downward pressure on the dollar and causing it to weaken against some major currencies. This outlook reflects market uncertainty regarding U.S. policy and fiscal sustainability, while the prospects for other economies such as Australia and China are relatively improving. However, upside risks for the dollar remain, and the longer the disruption to energy supplies lasts, the more pronounced that risk becomes.
Ebrahim Rezaei, spokesperson for the Iranian Parliament’s National Security and Foreign Policy Committee, stated on social media on Friday that the Nuclear Non-Proliferation Treaty has not brought Iran any substantial benefits. Rezaei also pointed out that IAEA Director-General Grossi’s claim that the only way to eliminate Iran’s nuclear program is through nuclear bombing is provocative and dangerous.
Pierre Wunsch, a member of the European Central Bank’s Governing Council and President of the National Bank of Belgium, stated that if the Iranian conflict is still ongoing by June, the ECB may have to take action to raise interest rates.
Pierre Wunsch reiterated that if the Iranian conflict is still unresolved by June, the ECB may have to take action to raise interest rates.
Hong Kong stocks and ADR market updates are ongoing; please see: Next Page
Market Trends:
【18:29】Trump extends ultimatum deadline by 10 days; Dow futures down 67 points, Nasdaq futures down 0.2%. Both the dollar and long-term bond yields in the U.S. rise.
【15:11】Dow futures up 177 points, at 46,407 points; S&P futures up 29 points, at 6,554 points; Nasdaq futures up 111 points or 0.5%, at 23,905 points.
【15:11】Oil prices mixed; New York crude down 0.3% at $94.24, Brent crude up nearly 0.1% at $108.11. Gold prices up over 1%, New York gold futures at $4,487, up 1.8%, spot gold at $4,451, up 1.7%.
【13:25】【AI + Memory】Google unveils new technology TurboQuant for distributed storage; chip stocks, Morgan Stanley calls it “another DeepSeek moment.” Analysts: Favorable for cloud service giants.
【11:26】【U.S. Currency】Trump’s signature to appear on new U.S. banknotes, breaking a 165-year tradition for U.S. Presidents.
【11:15】【Yen Trends】Yen to Hong Kong dollar at 4.91; Japan’s Finance Minister Katayama hints at potential market intervention.
【10:56】【AAPL】Apple unusually grants bonuses to iPhone hardware designers to prevent employees from being poached by OpenAI and others.
【10:49】【U.S. Interest Rates】Fed Vice Chair Jefferson: Rising energy prices have limited impact on inflation; current interest rate stance is appropriate.
【10:24】【AI + OpenAI】OpenAI’s U.S. advertising revenue exceeds $100 million in six weeks; expansion to more countries in the coming weeks.
【10:07】【Gold Price Trends】Gold prices recover some ground; Trump delays the deadline for reaching an agreement with Iran; the Central Bank of Turkey sells over $8 billion in gold, exacerbating downward pressure on gold prices.
【10:06】【Iran Crisis】Trump: Extends negotiation deadline to April 6; “The Iranian delegation politely asked for 7 days, I gave 10 days.” (Updates ongoing)
【09:59】【NFLX】Netflix raises monthly fees for all U.S. subscribers, with increases of over 12%.
【09:28】【IPO News】Anthropic reportedly considering IPO as early as October, potentially raising over $60 billion.
【08:47】【IPO News】SpaceX is reportedly planning an investor briefing in April and intends to allocate up to 30% of IPO shares to retail investors.
【08:16】【AI + Siri】Apple’s Siri “undergoes a major overhaul”; plans to open Siri to external AI assistants.
$1 or below reflects the U.S. market situation on March 26====
Thursday: Trump extends the strike on Iranian power plants by 10 days; oil prices fluctuate.
Former President Trump stated on the social platform Truth Social, “At the request of the Iranian government, please let this statement represent my suspension of the destruction of the power plants for 10 days, until Monday, April 6, 2026, at 8 PM Eastern Time. Discussions are ongoing, and despite the fake news media and others spreading false statements to the contrary, the talks are progressing very smoothly.”
Brent crude oil once evaporated a 7% increase; however, the message still indicates that the Strait of Hormuz will face a blockade for an additional 10 days, causing oil prices to rebound sharply by 5% to $107.
Market Close Overview:
Inflation concerns persist, with U.S. 10-year bond yields rising to 4.412%, up 0.079%, and the U.S. dollar index up 0.3% at 99.93.
The Dow closed down 469 points, at 45,960 points, the S&P down 1.7%, at 6,477 points, and the Nasdaq down 2.4%, at 21,408 points.
Trump stated at a cabinet meeting that the U.S. would continue to strike against Iran until an agreement to end the conflict is reached. He confirmed that the U.S. still plans to keep the war with Iran to just four to six weeks.
Trump revealed that the “gift” sent by the Iranian negotiation representatives was to allow at least eight oil tankers to pass through the Strait of Hormuz earlier this week. Trump said that these vessels could pass through the strait, signaling to the U.S. that the negotiation representatives are indicating “we are real and reliable.” Trump added that these tankers might fly the Pakistani flag. He continued, “At that time, I said, ‘Well, I think we are dealing with the right people.’ In fact, they later apologized for some of the things they said and indicated they would send two more ships.” The White House declined to provide more details about the tankers.
Earlier, Trump posted on Truth Social that the Iranian negotiation representatives were very unusual and somewhat “weird.” On one hand, they “pleaded” for the U.S. to reach an agreement, which he found reasonable. However, they publicly stated they were only considering the U.S. proposal. He bluntly stated that this was a big mistake and urged Iran to take it seriously soon, or it would be too late, and the consequences would be unimaginable!
He later stated in an interview that the Iran issue would be resolved soon, and energy prices would drop, possibly even to lower levels. He was unsure if he was willing to reach an agreement with Iran, indicating that they should have reached an agreement four weeks ago and had missed that opportunity. He also mentioned that the U.S. has completely destroyed Iran’s navy and air force, along with about 90% of its missiles and missile launch systems, and that Iran was expected to use nuclear weapons against Israel, other countries in the region, and the U.S.
The Iranian Tasnim news agency reported that Iran formally responded to the U.S. proposal for a ceasefire agreement containing 15 points on Wednesday (25th) and is waiting for a response from the other side. In its response, Iran stated that the enemy’s aggression and terrorism must cease, objective conditions must be created to ensure that war does not recur, war reparations must be guaranteed and resolved, and the end of the war must be executed across all fronts against all resistance organizations involved in this battle throughout the region.
Egypt confirmed its participation in U.S.-Iran mediation. Egyptian Foreign Minister Abdelatty stated that Egypt, along with Turkey and Pakistan, is assisting in conveying messages between the U.S. and Iran and participating in broader mediation efforts to de-escalate the regional situation.
Schroeder indicated that the developments in the Iran conflict still have multiple possibilities, making the economic and financial market outlook difficult to assess: if oil prices are above $120 per barrel or below $90, the global economy will present entirely different scenarios. Compared to February, the probability of both extreme situations has increased, while the probability of the previously moderate “economic stability” scenario has been adjusted downward.
The bank indicated that, given the inflation pressures from oil price shocks, the probability of an “overheating” economic scenario has increased; however, this assessment remains lower than the market-implied probability. Central banks around the world will closely monitor the potential for “second-round impacts,” such as rising medium-term inflation expectations, wage increases, and supply chain disruptions.
Hong Kong stocks and ADR market updates are ongoing; please see: Next Page
Market Trends:
【23:00】Trump: The Iran issue will be resolved soon, and energy prices will drop. Egypt confirms participation in mediation. Dow down 75 points, oil prices up 4%.
【21:30】Trump urges Iranian negotiation representatives to take it seriously soon. Egypt confirms participation in mediation. Dow down 218 points, oil prices up 4%.
【18:15】Dow futures down 317 points, Nasdaq futures down 0.8%. Oil prices up 4%, gold prices retreat after two consecutive days of gains.
【14:27】Dow futures down 190 points, at 46,521 points; S&P futures down 29 points, at 6,611 points; Nasdaq futures down 126 points or 0.5%, at 24,241 points.
【14:27】Oil prices up 2%; New York crude at $92.41, up 2.3%; Brent crude at $104.68, up 2.4%. Gold prices retreat after two consecutive days of gains; New York gold down 3% at $4,446; spot gold down 1.7% at $4,429.
【14:19】【Private Equity】Former Goldman Sachs CEO warns: Private markets harbor “fire” crisis; failure to sell assets could trigger massive impairments.
【13:39】【U.S. Stock Analysis】Dow up 300 points; analysts: The current rebound is speculation on a ceasefire, and the U.S.-Iran conflict is unlikely to end in the short term, oil prices will rise again.
【11:58】【Iran Crisis】BlackRock CEO warns investors are underestimating the war risks in Iran; even if “war is announced to end tomorrow,” oil prices could still soar to $150.
【11:43】【AI + Meta】Substantial AI investment; Meta launches a new round of layoffs, affecting hundreds of employees.
【10:47】【Dollar Trends】Morgan Stanley: The rise of the dollar may be a “trap for longs”; the market underestimates the negative impact of the Iran war on the U.S. economy; expects the Fed to cut rates twice this year.
【10:15】【U.S. Rate Cuts】Fed Governor Milan raises rate expectations by 0.5 percentage points, citing reasons beyond oil prices and Iran.
【09:28】【Gold Price Trends】Gold prices halt a nine-day decline! Spot gold recovers above $4,500; in Hong Kong, gold price rebounds by $1,800 in a single day.
【08:54】【ARM + Chips】Arm rises 8% after hours, launching its own chips for the first time, expected to generate around $15 billion in annual revenue within five years; Meta is the first major customer.
【08:26】【IPO News】SpaceX reportedly plans to submit an IPO application as early as this week, potentially raising over $75 billion.
【08:23】【Iran Crisis】Trump: Iran will deliver a “big gift” today; Rubio and Vance participate in negotiations. The premise is “must not have nuclear weapons.” (Updates ongoing)
【08:01】【AI + AMZN】Software stocks hit hard again; Amazon reportedly develops a new AI agent to replace some departmental functions.
$1 or below reflects the U.S. market situation on March 25====
Wednesday: Dow up 305 points; Iran claims to have shot down U.S. F-18 fighter jets; the White House: Trump to visit China in mid-May.
White House Press Secretary Karoline Leavitt announced on Wednesday that President Trump will meet with Chinese President Xi Jinping from May 14 to 15 in Beijing; the market anticipates that the new schedule implies the U.S. expects the Middle East war to end by mid-May, leading to a significant rebound in U.S. stocks.
Market Close Overview:
The Dow’s gains expanded to a maximum of 594 points, but the uncertainty surrounding war negotiations narrowed the close to an increase of 305 points, settling at 46,429 points; the S&P rose 0.54%, the Nasdaq gained 0.77%, and the Hang Seng Index reflecting Chinese concept stocks rose 1.86%.
In focus stocks, Tesla Optimus officially released a video and revealed details related to Optimus, including the development environment, deceleration gearbox, and dexterous hands. Tesla Optimus indicated that it will fundamentally change the economic landscape of labor and manufacturing. Musk stated that Optimus 3 is expected to begin production this summer and is anticipated to achieve mass production by 2027. Tesla (NASDAQ: TSLA) rose 0.8%.
Amazon and Nvidia stocks rose by 2%; British chip design company ARM launched its own chips, stimulating ADR stock prices to rise by 16.4%.
The Iranian Revolutionary Guard announced on Wednesday that its air defense forces shot down a U.S. F-18 fighter jet in southeastern airspace that afternoon, and the aircraft subsequently crashed into the Indian Ocean.
Iran’s Fars news agency reported on Wednesday (25th) that Iran would reject the U.S. proposal for a ceasefire and continue attacking Israel and Gulf Arab countries, stating that Trump’s current indirect negotiation approach lacks logic and is impractical. They emphasized that Iran is focused on achieving its goals, and only when these goals are realized will it be possible to end the war, not merely through a ceasefire. This news helped to control the downward trend in oil prices, with New York crude oil dropping up to 6.38%, closing at $90.32, still down 2.2%; Brent crude fell 7% to $97.15, closing at $102.22, down 2.2%.
Iranian state media Press TV reported that the Bushehr nuclear power station was attacked again at 9 PM local time on Tuesday. The nuclear power plant was previously attacked in mid-March when the International Atomic Energy Agency (IAEA) stated that the reactor itself was not damaged.
Iran reiterated that non-hostile vessels can pass safely through the Strait of Hormuz as long as they are coordinated. Marine Traffic data shows that from Monday (23rd) to date, nine vessels have passed through the Strait of Hormuz.
Spot gold prices rose by as much as 2.83%, settling at $4,602.34; Bitcoin briefly rose by 2.79% to $72,013.
Memory stocks fell sharply, with Micron (NASDAQ: MU) down 3.4%, Sandisk (NASDAQ: SNDK) down 3.5%. This was mainly impacted by news that South Korean semiconductor giant SK Hynix plans to list in the U.S.
Foreign media reported that SK Hynix has submitted confidential filing materials to the U.S. Securities and Exchange Commission (SEC) and plans to issue American Depositary Receipts (ADRs) within the year. A spokesperson for SK Hynix responded that various measures to enhance shareholder value, including issuing ADRs, are currently under review, but no final decision has been made.
Hong Kong stocks and ADR market updates are ongoing; please see: Next Page
Market Trends:
【22:40】Dow up 371 points.
【21:30】Brent crude oil down 5%, losing the $100 mark; Dow up 580 points, Nasdaq up 1.2%. Micron down 6%.
【17:55】Iran war negotiations “warming up”; Dow futures up 365 points, Nasdaq futures up 1%. Brent crude down 4%, losing the $100 mark.
【14:54】Dow futures up 339 points, at 46,754 points; S&P futures up 42 points, at 6,648 points; Nasdaq futures up 160 points or 0.7%, at 24,374 points.
【14:54】New York crude down 3.4%, at $89.20; Brent crude down 4%, at $100.30. New York gold up 3.3%, at $4,578; spot gold up 1.7%, at $4,549.
【13:57】【AI + Sora】OpenAI suddenly halts Sora AI video generation, shocking the market; Disney was informed 30 minutes after the project meeting, while OpenAI was still promoting Sora a day earlier.
【13:52】【AI + IPO】SK Hynix plans to go public in the U.S. within the year, having submitted an application to the SEC, with potential fundraising of up to $10 billion.
【13:32】【U.S. Stock Analysis】The U.S. proposes a ceasefire agreement to Iran; Dow futures rise over 300 points. Analysts: Trump’s TACO, future markets must still focus on two major issues.
【11:01】【Iran Situation】JPMorgan’s Dimon: Long-term conflict could promote lasting peace in the Middle East due to the alignment of interests among regional powers.
【10:48】【U.S.-China Relations】China Investment Corporation reportedly considering reallocating to U.S. asset management firms.
【10:26】【AI + AAPL】Siri no longer just a voice assistant? Apple upgrades Siri to a chat robot and adds the new “Ask Siri” feature, expected to debut at the June WWDC.
【10:00】【Yen Trends】Yen to Hong Kong dollar at 4.93; minutes from Japan’s central bank meeting indicate some members suggest timely rate hikes to address rising inflation.
【09:58】【U.S. Rate Cuts】Fed Governor Barr: Rates may need to remain unchanged for “some time”; Middle Eastern situation poses “additional risks.”
【09:39】【Gold Price Trends】Gold prices end a nine-day decline! Spot gold recovers above $4,500; in Hong Kong, the price of gold per tael rebounded by $1,800 in a single day.
【08:54】【ARM + Chips】Arm rises 8% after hours, launching its own chips for the first time, expected to generate around $15 billion in annual revenue within five years; Meta is the first major customer.
【08:26】【IPO News】SpaceX reportedly plans to submit an IPO application as early as this week, potentially raising over $75 billion.
【08:23】【Iran Crisis】Trump: Iran will deliver a “big gift” today; Rubio and Vance participate in negotiations. The premise is “must not have nuclear weapons.” (Updates ongoing)
【08:01】【AI + AMZN】Software stocks hit hard again; Amazon reportedly developing a new AI agent to replace some departmental functions.
$1 or below reflects the U.S. market situation on March 24====
Tuesday: The U.S. reportedly seeks negotiations with Iran on Thursday; Brent oil stabilizes; Dow declines narrowed.
Multiple U.S. media outlets reported that the U.S. is in contact with Iran regarding a ceasefire plan, with Axios reporting that the U.S. and intermediary negotiators are discussing the possibility of holding high-level talks on Thursday, but they are still awaiting a response from Tehran.
Market Close Overview:
Iranian officials denied Trump’s claims about behind-the-scenes negotiations but confirmed that the U.S. has sent messages and proposals.
Oil prices were mixed, with Brent crude up 0.2%, closing at $100.17, and New York crude rising 4.8%, closing at $92.35.
Gold prices rebounded, with spot gold prices rising by 1.6%, closing at $4,475.51, while spot silver prices remained relatively unchanged at $71.2194.
The U.S. dollar index rose 0.3%, at 99.23, while U.S. 10-year bond yields remained high at 4.36%.
U.S. stocks were soft, with the Dow falling as much as 438 points, hitting a low of 45,769, and closing down 84 points at 46,124. The S&P fell 0.4%, closing at 6,556, and the Nasdaq fell 0.8%, closing at 21,761.
Trump has delayed the ultimatum by 5 days, but isolated attacks continue between Israel and Iran. The Prime Minister of Pakistan has expressed willingness to host U.S.-Iran talks to resolve the ongoing conflict.
Market news indicates that Iran has begun charging some commercial vessels passing through the Strait of Hormuz a toll, with fees collected on a temporary basis, reaching up to $2 million per single voyage, effectively establishing an informal “toll” on this waterway. Some vessels have reportedly paid the related fees, but the specific payment mechanisms remain unclear, including what currency is used.
The Iranian Tasnim news agency reported on Tuesday that a vessel flying the flag of Thailand successfully passed through the Strait of Hormuz after close coordination with Iranian authorities.
According to Israeli media Ynet citing local officials, the U.S. has set April 9 as the target date to end the war with Iran, implying that there are over half a month for fighting and negotiations, with Washington striving to conclude hostilities by the end of April.
Reports suggest that if the conflict is expected to end around April 9, Trump plans to visit the area around Israel’s Independence Day on May 14. Currently, countries like Pakistan are actively mediating, attempting to arrange indirect communications between the U.S. and Iran, possibly having preliminary contacts in Pakistan this week, but neither side has formally confirmed.
Additionally, according to reports from Russian media cited by CCTV, an Omani journalist and researcher on international relations, Salem Al-Jahuri, confirmed on the BBC Arabic channel that the U.S. is pressuring Gulf countries to pay hefty costs for U.S. involvement in the Iran conflict.
Reports indicate that Trump is demanding hefty “protection fees” from Arab allies, either to pay $50 trillion (about 39 trillion Hong Kong dollars) to continue the conflict or $25 trillion (about 19.5 trillion Hong Kong dollars) to end the war, claiming it is compensation for “achievements made.”
Hong Kong stocks and ADR market updates are ongoing; please see: Next Page
Market Trends:
【22:50】Reported that Iran is charging tolls to commercial vessels passing through the Strait of Hormuz; Dow down 88 points, Nasdaq down 0.6%, oil prices rebound by 3%.
【21:30】Pakistan indicates readiness to host U.S.-Iran talks; Dow down 338 points, Nasdaq down 0.6%, oil prices rebound by 4%.
【18:00】【Iran Crisis】Is there hope for peace in the U.S.-Iran war? Reportedly, Trump is demanding a sky-high protection fee: pay $25 trillion to end the war.
【16:00】【Iran Crisis】Report that the U.S. has set April 9 as the “end of war date”; Iran continues to deny.
【14:00】Dow futures down 258 points, at 46,264; S&P futures down 38 points, at 6,596; Nasdaq futures down 150 points or 0.6%, at 24,258.
【14:00】Oil prices recover, with New York crude at $91.6, up nearly 4%; Brent crude at $103.4, up 3.4%. Gold prices remain soft, with New York gold down 0.9% at $4,400; spot gold down 1.1% at $4,357.
【14:00】【Iran Crisis】DBS: Gold prices are likely to be constrained in the short term by ongoing fluctuations in the Middle East conflict; maintaining this year’s end target of $6,250.
【13:23】【AI + OpenAI】OpenAI reportedly offered generous terms to private equity firms; 17.5% guaranteed returns to compete in the enterprise AI market.
【13:08】【OnlyFans】OnlyFans billionaire owner Leonid Radvinsky has died of cancer at the age of 43.
【12:34】【Gold Price Trends】Gold prices continue to soften after nine consecutive declines; in Hong Kong, the price per tael drops below 40,000.
【12:15】【Switch 2】Nintendo plans to cut Switch 2 production by about 33% this season; production cuts may continue until April.
【11:51】【Gold Price Trends】Gold prices have fallen over 20% from highs, entering a bear market; Morgan Stanley: Funds are flowing from safe-haven assets to the stock market, which is a positive signal for U.S. stocks.
【11:19】【Iran Crisis】The Finance Minister has ordered an assessment of the supply chain for oil-related products to address the crisis; the Ministry of Finance is reportedly consulting the market on potential interventions in crude oil futures.
【10:36】【AI + Investment】BlackRock CEO: The AI wave may exacerbate wealth inequality; investors should hedge against impacts through shareholding.
【08:37】【AI + OpenAI】OpenAI, in investor documents, states that reliance on Microsoft poses risks; what other risks are there?
【08:08】【Iran Crisis】Fed officials Daly: The U.S. economy faces at least two possible scenarios; the Fed needs to remain flexible to respond to risks.
【07:48】【AI + Apple】Apple’s annual Worldwide Developers Conference WWDC26 will be held from June 8; a series of AI features are expected to be released.
【06:32】【Iran Crisis】Iran’s parliamentary speaker denies ever negotiating with Trump; British destroyer “Dragon” arrives in the Mediterranean. (Updates ongoing)
$1 or below reflects the U.S. market situation on March 23====
Monday: Trump’s statements remain questioned; Dow’s gains cut in half to 631 points, oil prices continue to drop by 10%.
Former President Trump claimed to be negotiating with Iran, delaying strikes on power plants, which stimulated oil prices to fall and the stock market to rebound. The Dow had risen by 1,134 points, reaching a high of 46,712 points, the S&P had risen by 2.2% to a high of 6,651 points, and the Nasdaq had risen by 2.5% to a high of 22,189 points. The closing gains narrowed, with the Dow closing up 631 points at 46,208 points, the S&P up 1.1% at 6,581 points, and the Nasdaq up 1.4% at 21,946 points.
Market Close Overview:
Oil prices had dropped by 14.1% at one point, closing down 10%; New York crude closed at $88.13, and Brent crude closed at $100.5. Spot gold prices had dropped by 7%, hitting a low of $4,099.18, closing down 1.9% at $4,407.18.
Thierry Wizman, global foreign exchange and interest rate strategist at Macquarie Group, stated, “We are cautiously skeptical about the news and tweets regarding an impending ‘breakthrough’ this morning,” believing that the war is unlikely to continue beyond April as Iran’s threats may diminish by then, but large-scale military actions are also unlikely to conclude within this week.
Trump stated on the social platform Truth Social that negotiations with Iran have progressed smoothly over the past two days, instructing the U.S. military to suspend all military strikes against Iranian power plants and energy infrastructure for five days, provided that successful outcomes from ongoing meetings and discussions are achieved.
Trump later indicated that both countries reached multiple consensuses during negotiations and had discussed potential leadership candidates for Iran, stating that Iran has agreed to abandon nuclear weapons. However, he also mentioned that if the U.S.-Iran talks fail, bombing actions will continue.
However, the Iranian Tasnim news agency later quoted Iranian sources as stating that no negotiations have taken place between the U.S. and Iran, and there are currently no talks. They also made it clear that U.S. attacks continue, and the Strait of Hormuz will not return to its pre-conflict state. Another news agency, Mehr, later cited sources from the Iranian Foreign Ministry saying that Trump’s statements aim to lower energy prices and buy time for his military plans.
The Iranian Foreign Ministry later stated that there are some proposals to ease tensions, but Iran’s response is that the U.S. should be the party to dialogue, as the war was not initiated by Iran.
Trump further responded, stating that negotiations took place on Sunday (22nd) evening, emphasizing that Iran is eager to reach an agreement, and he admitted not knowing why Iranian media would refute his statements.
T. Rowe Price indicated that after the attack on Iran, gold prices experienced a typical safe-haven surge, but this increase could not be sustained, as the market quickly reinterpreted the nature of the event. Investors did not view it as a sustained geopolitical shock but rather leaned towards seeing it as an inflation event driven by energy prices. This shift pushed up real interest rates, strengthened the dollar, and weakened market expectations for rate cuts, all of which are unfavorable for gold performance.
Gold prices had already accumulated considerable gains before the event, limiting the space for new safe-haven capital inflow. It is expected that gold price trends will be influenced by both macroeconomic and geopolitical factors. In the short term, the direction of real interest rates and central bank policy expectations will be critical, alongside monitoring energy prices and dollar trends. The bank still regards gold as a strategic allocation rather than a short-term trading tool. Structural demand from central banks, coupled with uncertain policy outlooks, provides certain support for gold prices, even if short-term price movements may remain volatile.
Hong Kong stocks and ADR market updates are ongoing; please see: Next Page
Market Trends:
【22:15】Trump: If U.S.-Iran talks break down, bombing actions will continue. Dow rebounds by 890 points; oil prices down by 10%.
【21:30】Trump postpones ultimatum by 5 days, stating negotiations with Iran are ongoing. Dow rebounds by 744 points; oil prices down by 8%.
【20:10】Iran denies negotiations; Dow futures’ gains narrow; oil prices down by 5%.
【19:10】Trump: Progress in negotiations with Iran; postpones ultimatum by 5 days. Dow futures turn up by 1,207 points; Nasdaq futures rise by 2.2%; oil prices plunge by 10%.
【14:13】Dow futures down 200 points, at 45,693; S&P futures down 37 points, at 6,521; Nasdaq