Oil Price Drop Changes Mood for Record Run

Oil Price Drop Changes Mood for Record Run
Oil Price Drop Changes Mood for Record Run

NEW YORK – Falling oil prices and increasing geopolitical tensions have left investors on Wall Street more cautious after the recent record rally on Tuesday. The Dow Jones Industrial reached a record high at 21 535 points in early trading, but then fell back. The US leading index closed at 21 467.14 points and thus 0.29 percent lower than the previous day. S&P500 fell 0.667 percent to 2437.03 points.

The investors also looked at the growing tensions in the Middle East following the shooting of a Syrian fighter jet by the US. Russia, as a protective power of the Syrian government, has made a sharp statement. The dispute between the USA and North Korea also came to the fore again after the US student, who had recently returned home after being held in North Korea, was deceased. US Secretary of State Rex Tillerson made a tough statement.

In addition, technology stocks such as those of the Google mother Alphabet’s and those of the communication platform Facebook were again under pressure.

Tech stocks had recently raised concerns among investors in terms of their high ratings. The Nasdaq 100, a high-tech index, fell by 0.80 percent to 5726.31 after the previous day’s recovery.

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