On the 4th, in the New York financial market, international crude oil futures prices briefly rose to the $87/barrel level for the first time in about five months due to the tense situation in the Middle East. As a result, concerns about inflation spread, and the Dow Jones Industrial Average dropped by more than 500 points.
On the 4th, in the New York crude oil market, the WTI futures price, which is an indicator of international trading, briefly rose to the $87/barrel level for the first time in about five months since late October last year.
The reason for this is that an attack on the Iranian embassy in Syria in the Middle East, believed to be by Israel, has led to widespread speculation that if the situation in the Middle East becomes tense, it will affect crude oil supplies.
In response to this, sell orders increased in the New York stock market due to concerns about inflation, and the closing price of the Dow Jones Industrial Average was $38,596.98, down $530.16 from the previous day.
The NASDAQ stock index, which is heavy on tech stocks, also fell by 1.4%.
Market sources said, ``In addition to the rise in crude oil futures prices, a high-ranking Federal Reserve official reportedly said that there is no need to cut interest rates if the price increase rate continues to be flat, leading to a rise in inflation. There has been growing concern."