[New York Stock Exchange] Disappointment Over Trump's Volatility... All Major Indices Open Lower

Oil Refining and Energy Shares Rise, Tech Stocks Fall
Oil Prices Rebound as Brent Crude Surpasses $100 Again

Concerns over the unpredictable moves of U.S. President Donald Trump resurfaced, causing all three major stock indices in the United States to open lower on March 24 (local time). Previously, President Trump had issued a “48-hour ultimatum” to Iran, but then abruptly revealed that negotiations were ongoing with Iran. The market had cheered the previous day on hopes for an end to hostilities, but only a day later, uncertainty has returned.

As of 10:04 a.m. on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average was down 232.02 points (0.50%) from the previous trading day to 45,976.45. The S&P 500, which focuses on large-cap stocks, dropped 34.53 points (0.52%) to 6,546.88, while the tech-heavy Nasdaq Composite Index was down 168.06 points (0.76%) at 21,778.70.

Currently, shares of oil refining and energy companies are showing a marked rise. Exxon Mobil is up 2.87%, Chevron has gained 1.80%, and Occidental Petroleum is up 2.45%. Diamondback Energy has surged 3.38%, and APA has risen 4.71%.

According to The Wall Street Journal (WSJ), before President Trump made the Iran negotiations public, the United States held a closed-door meeting with Iran through a mediator country in the Middle East. At this meeting, both sides confirmed there were significant differences in their positions, and the mediators believe that a quick agreement between the two countries is unlikely, WSJ reported.

There is growing confusion in the market regarding negotiations for a ceasefire. Contrary to President Trump’s statements, Israel and Iran continue to exchange airstrikes.

Oil prices have rebounded immediately. The price of West Texas Intermediate (WTI) crude for May delivery surged 3.49% to trade at $91.62 per barrel. Brent crude futures also rose 2.83% to $102.70 per barrel.

Scott Chronert, equity strategist at Citibank, pointed out, “There are still many variables regarding where oil prices will ultimately go and what impact that will have on the underlying economic situation. For now, I am comfortable with the projection of a 5-10% decline, but there are still significant risks, so caution is warranted.”

Technology stocks are also mostly declining. Nvidia is down 0.30%, Microsoft has fallen 1.80%, Amazon is off 1.10%, Alphabet is down 1.34%, and Meta has dropped 1.45%.

This content was produced with the assistance of AI translation services.