MARKET UPDATES:
The US market continues to decline as instability surrounding the escalating Iran conflict grows, while oil prices surge. Although President Trump has extended the deadline for attacking Iran's energy facilities to April 6 to ease tensions and pave the way for negotiations, the market remains skeptical as Iran denies participating in direct talks, shipping disruptions continue, and reports emerge that the US may deploy additional troops to the region.
Tensions have further escalated as two super large container ships from China Ocean Shipping Company were forced to turn back while attempting to pass through the Strait of Hormuz, dismissing any rumors that Chinese ships were allowed to transit. This is particularly noteworthy as China is seen as an ally of Iran, yet even their ships were blocked.
Market reaction:
Dow down 400 points (-0.75%), temporarily falling into correction territory (> -10% from peak)
S&P 500 -0.74%
Nasdaq -1.11%
Gold +1.61% at $4,448
BTC -3.54% to $66K (returning to levels when the conflict began on February 28)
Oil +3.18% to $97.48
#CreatorpadVN #BitcoinPrices $BTC
