Iran tensions weighed on Wall Street | Trade magazine

The rise in oil prices and heightened tensions in the Middle East weighed on the US stock market on Friday. Sales spread from technology to other industries, and interest rates on government bonds also rose, according to Bloomberg’s market figures.

The S&P 500, which broadly tracks large companies, fell 0.5 percent. The technology-focused Nasdaq Composite fell 0.2 percent. The flagship Dow Jones index fell 1.2 percent.

The decline in technology companies had widened the day before, when investors assessed the effects of large corporate loans and rising interest rates on artificial intelligence and other technology companies.

The gauge that tracks semiconductor stocks rose, but according to Bloomberg, at the end of the week, it remained in its longest downward spiral since November.

American Express fell 3.7 percent after announcing it would cut about five percent of its global workforce. The company said it was reorganizing to make room for preparing for artificial intelligence.

The price of US WTI crude oil exceeded 100 dollars per barrel and reached 103 dollars. Brent crude rose to $117.

The market followed news that the United States and Israel might be preparing new attacks on Iran. Iran, for its part, has said it is ready to respond. The increase in the price of oil increased concerns about inflation days before the central bank Fed’s interest rate decision.

The ten-year US Treasury bond rose to 5.00 percent. On Thursday, the interest rate had fallen below five percent for the first time in a month, as investors became concerned about the large amount of debt needed to finance the construction of artificial intelligence data centers.

During the week, the S&P 500 fell by 0.3 percent and the Nasdaq Composite by 0.5 percent. The Dow ended up 0.5 percent.

Network equipment manufacturer on the New York Stock Exchange Nokian depository receipt, or ADR, rose 3.1 percent to $8.13.