On Monday 09.19.2024, the White House announced new economic sanctions against China, which led to significant fluctuations in the markets. Investors reacted cautiously, with Wall Street indexes falling. Technology stocks were among the worst hit, amid concerns about the future trade relationship between the world’s two largest economies.
On Tuesday 20.09.2024 European markets recovered on news of a potential EU-UK deal on post-Brexit trade terms. This sent shares in the banking and auto sectors higher. At the same time, commodity prices remained stable despite ongoing geopolitical tensions.
On Wednesday 09.21.2024, Oil prices rose after OPEC announced production cuts to stabilize the market. This led to a rise in the shares of energy companies. At the same time, US inflation data showed a slight increase, fueling speculation about future Federal Reserve action.
On Thursday 09.22.2024, Russian President Vladimir Putin announced new military maneuvers near the border with Ukraine, which led to a sharp rise in the prices of energy resources. Investors reacted with increased caution, with shares of energy companies posting significant gains. Meanwhile, European markets steadied on news of potential diplomatic talks.
On Friday 09.23.2024, Wall Street’s leading indices posted gains in early trade, continuing their gains from the previous session. However, indexes headed for a third straight week of declines as investors continued to assess financial risks stemming from the geopolitical situation. The blue-chip Dow Jones Industrial Average added 0.67%, or 222.22 points, to 33,446.05. The broad barometer S&P 500 advanced 0.32%, or 13.58 points, to 4,302.28 points. The tech-heavy Nasdaq Composite was down 0.59%, or 79.22 points, at 13,394.37.