Trading Day: Growth fears snowball
The S&P 500 and Nasdaq hit seven-month lows on Monday as growth fears and inflation concerns escalated due to the ongoing Iran war. Gold prices edged higher amid dip-buying and positive comments from Fed Chair Jerome Powell, while bond yields fell and oil prices rose above $100 a barrel.
The S&P 500 and Nasdaq fell to seven-month lows on Monday. This decline is attributed to growth fears and inflation concerns sparked by the Iran war. Gold prices rose 0.5% amid dip-buying and positive comments from Fed Chair Jerome Powell. The US dollar rose to its highest level since May last year, while the euro slid on growth fears. Oil prices continued to rise, with Brent crude up 1% and WTI up 4%. The market volatility has been fueled by the Iran war, which has led to a surge in oil prices and a decline in stock markets.
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