[New York Stocks] Three Major Indexes Close Lower Amid US-Iran Negotiation Uncertainty

Dow Drops 1.7%, S&P Records Longest Losing Streak in Four Years
Brent Crude Hits Highest Level in Three Years and Eight Months

On March 27 (local time), all three major U.S. stock indexes closed lower amid increasing uncertainty over negotiations between the United States and Iran and concerns that the war could be prolonged. The S&P 500 index recorded its longest losing streak in four years.

On this day on the New York Stock Exchange, the Dow Jones Industrial Average closed at 45,166.64, down 793.47 points (1.73%) from the previous session. The S&P 500 index ended at 6,368.85, down 108.31 points (1.67%), while the Nasdaq Composite closed at 20,948.36, down 459.72 points (2.15%).

Following the Nasdaq, which entered a correction phase after falling 10% from its recent high, the Dow Jones also entered a correction phase. The Nasdaq and Dow Jones indexes have fallen approximately 13% and 10.5% from their previous record highs, respectively. The S&P 500 index is also down about 9% from its previous peak.

The market capitalization of the "Magnificent 7," a group of mega-cap technology stocks, shrank by $330 billion (about KRW 49.8 trillion) in just one day.

U.S. President Donald Trump is attempting to negotiate by postponing an attack on Iranian energy facilities, but uncertainty continues to rise. The previous day, President Trump warned that he would attack power plants if Iran did not reopen the Strait of Hormuz, but extended the deadline by 10 days to April 6.

The Strait of Hormuz remains blockaded, and there have been reports that even two Chinese vessels closely tied to Iran had to turn back, unable to pass through the strait. A Thai vessel ran aground after a collision in the strait.

International oil prices also surged. The settlement price of Brent crude futures for May delivery rose 4.2% from the previous session to $112.57 per barrel. Brent crude, the international oil benchmark, reached its highest level in three years and eight months since July 2022. The settlement price of West Texas Intermediate (WTI) crude futures for May delivery climbed 5.5% to $99.64 per barrel.

Meanwhile, Israel has intensified airstrikes on the Iranian mainland, targeting not only an Iranian steel mill but also two nuclear facilities. Iran, vowing to exact a "harsh price" for these "crimes," continued retaliatory attacks against neighboring Gulf countries.

Amid reports that President Trump is considering sending an additional 10,000 troops, including infantry and armored units, to the Middle East, concerns remain about the possibility of a U.S. ground operation in Iran. U.S. Secretary of State Marco Rubio stated, "We expect to conclude (the military operation against Iran) at the appropriate time in a matter of weeks, not months," and added, "We can achieve all of our objectives even without ground forces."

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