Wall Street: opens lower (S&P -0.9 per cent), amid falls in tech shares and a rise in oil prices
(Il Sole 24 Ore Radiocor) - Wall Street opened lower, weighed down by falls in large-cap stocks such as Meta Platforms and Tesla, and by rising oil prices, against a backdrop of growing geopolitical tensions. Tesla shares fell by 2.8 per cent, whilst Meta Platforms shares dropped by 4.9 per cent, despite third-quarter results and forecasts exceeding expectations. Traders at JPMorgan noted that yesterday’s bullish sentiment had “reversed overnight” as Meta shares turned negative and rumours intensified regarding the “renewed risk of war in Iran, following the US mid-term elections”, which drove up oil prices. The New York Times reported, citing sources, that the US and Israel are planning new attacks against Iran following next month’s US mid-term elections. President Donald Trump also told journalists last night that Washington is not negotiating with Tehran and that something will happen “quite soon”. At the moment, the Dow Jones is down 196.42 points (-0.37 per cent), the S&P 500 is down 68.31 points (-0.88 per cent), the Nasdaq is down 389.46 points (-1.46 per cent). WTI crude oil on the NYMEX is up 2.75 per cent at $99.82 per barrel.
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