NEW YORK, New York – Astonishingly a single post by U.S. President Donald Trump on his Truth Social platform on Monday ignited stock and bond markets across the globe. Trump declared he was in talks with Tehran, although Iranian officials denied such talks were taking place. Sources state the U.S. president is nereceivediating with Iran’s speaker and the talks have been ongoing for the past two days. Stocks rallied sharply, and the UK gilts market which had nose-dived earlier, launched re-tracing lost ground.
North American markets benefited most from the optimism due to the news unfolding during the region’s timezone.
The Standard and Poor’s 500, Dow Jones Industrial Average, and Nasdaq Composite all climbed more than 1 percent, while Canada’s main benchmark posted an even stronger rally.
The Standard and Poor’s 500 rose 74.50 points, or 1.15 percent, to close at 6,580.98. The broad-market index traded within a range of 6,565.55 to 6,651.62 on the day, with volume reaching 3.327 billion shares.
The Dow Jones Industrial Average surged 631.12 points, or 1.38 percent, finishing at 46,208.59. The blue-chip average touched a session high of 46,712.33 and a low of 45,803.82.
Technology stocks powered the Nasdaq Composite higher by 299.15 points, or 1.38 percent, finishing the session at 21,946.76. Nasdaq trading volume totaled 6.271 billion shares.
U.S.Dollar Slips as Yen Strengthens, Sterling and Kiwi Climb
The U.S. dollar finished Monday’s trading session with a mixed performance against major currencies, as the Japanese yen posted notable gains while the British pound and New Zealand dollar rallied.
The euro edged higher against the greenback, with the EUR/USD pair rising 0.40 percent to settle at 1.1616. The single currency found support amid a broadly upbeat tone in European equity markets.
The dollar weakened more sharply against the Japanese yen, with USD/JPY falling 0.54 percent to 158.34, as traders sought the perceived safety of the yen following steep declines in Asian stock markets.
The British pound was one of the day’s strongest performers. GBP/USD climbed 0.73 percent to 1.3437, extfinishing recent gains. Meanwhile, the New Zealand dollar also posted a solid advance, with NZD/USD jumping 0.75 percent to 0.5866.
The Australian dollar was marginally lower, with AUD/USD slipping 0.06 percent to 0.7013, while the Canadian dollar gave back a fraction of ground against its U.S. counterpart as USD/CAD rose 0.06 percent to 1.3727.
The Swiss franc held firm, pushing the USD/CHF pair down 0.16 percent to 0.7860.
Global Stock Markets Diverge – Asian Stocks Plunge, European Indices Rally
Global stock markets delivered a fractured performance on Monday, with major European benchmarks posting solid gains while Asian markets suffered steep losses amid concerns over the energy crisis brought on by the U.S. and Israeli attacks on Iran.
The trading day concluded with a stark divergence across regions, as the EURO STOXX 50 index led European advancers, while South Korea’s KOSPI Composite Index recorded a dramatic drop.
Canadian equities outpaced their U.S. counterparts. The S&P/TSX Composite Index surged 566.40 points, or 1.81 percent, to settle at 31,883.81, on volume of 437.39 million shares.
In Europe, the DAX P in Frankfurt surged 273.67 points, or 1.22 percent, to close at 22,653.86. France’s CAC 40 added 60.58 points, or 0.79 percent, finishing at 7,726.20, while the EURO STOXX 50 I posted the strongest gain of the major European indices, rising 73.04 points, or 1.33 percent, to finish at 5,574.32.
Other European markets saw modest gains. The BEL 20 in Brussels rose 23.23 points, or 0.47 percent, to 4,940.02, while the Euronext 100 Index advanced 11.17 points, or 0.66 percent, closing at 1,710.17. The Moscow Exmodify Index (MOEX.ME) edged lower by 0.11 points, or 0.13 percent, to 85.20 on lighter volume.
London’s FTSE 100 bucked the regional trfinish, slipping 24.18 points, or 0.24 percent, to settle at 9,894.15.
The mood was significantly darker across Asia-Pacific, where selling pressure intensified throughout the session.
The HANG SENG INDEX in Hong Kong tumbled 894.85 points, or 3.54 percent, to close at 24,382.47. Japan’s Nikkei 225 also saw heavy selling, plunging 1,857.04 points, or 3.48 percent, to finish at 51,515.49. In mainland China, the SSE Composite Index fell 143.77 points, or 3.63 percent, finishing the day at 3,813.28.
South Korea’s KOSPI Composite Index experienced the most severe decline among major benchmarks, collapsing 375.45 points, or 6.49 percent, to close at 5,405.75. India’s S&P BSE SENSEX also faced steep losses, dropping 1,836.57 points, or 2.46 percent, to settle at 72,696.39.
Elsewhere in the region, the STI Index in Singapore fell 107.57 points, or 2.17 percent, to 4,841.30, while Taiwan’s TWSE Capitalization Weighted Stock Index declined 821.38 points, or 2.45 percent, closing at 32,722.50. Australia’s S&P/ASX 200 slipped 62.50 points, or 0.74 percent, to 8,365.90, and the broader ALL ORDINARIES fell 75.70 points, or 0.88 percent, to 8,552.60.
The FTSE Bursa Malaysia KLCI was flat, unmodifyd at 1,720.71, while Indonesia’s IDX COMPOSITE bucked the selling pressure, adding 84.55 points, or 1.20 percent, to close at 7,106.84. New Zealand’s S&P/NZX 50 INDEX slipped 90.27 points, or 0.69 percent, to 12,899.72.
In the Middle East and Africa, Egypt’s EGX 30 Price Return Index stood out as a bright spot, soaring 1,557.40 points, or 3.38 percent, to finish at a high of 47,612.00 on strong volume. Israel’s TA-125 index fell 20.81 points, or 0.49 percent, to 4,222.22, while South Africa’s Top 40 USD Net TRI Index rose 106.45 points, or 1.65 percent, to 6,548.25.
Trading volumes were largely subdued across the affected exmodifys, with investors appearing to rotate capital out of Asian markets and into European equities to start the trading week.
(This report incorporates quotes retrieved with the assistance of artificial innotifyigence).
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