๐ Red morning on Wall Street: minus $500 billion due to Trumpโs statement
โThe U.S. stock market opened with a steep drop following a high-profile statement by Donald Trump. The U.S. President announced that the memorandum of understanding (MOU) with Iran has officially been โterminated.โ
โThe key points right now:
โMassive losses: Only at the opening of trading, the U.S. equities market instantly lost about $500,000,000,000 in market value.
โThe heat map is burning red: Tech giants are taking significant hits. Tesla shares plunged by 4.02%, Micron fell by 3.81%, while Microsoft and Nvidia are down 1.24% and 0.89%, respectively.
โThe cause of panic: Speaking in Ankara, Trump called further negotiations with Tehran a โwaste of time.โ This came amid mutual military strikes by the U.S. and Iran in the area of the Strait of Hormuz.
โOil ripple effect: While stocks are falling, oil prices (including Brent) jumped immediately by 5%, intensifying fears of a new wave of inflation.
โ๐ Summary: Geopolitical stability is once again under threat, and investors are fleeing risky assets en masse. Weโre watching developments.
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