AI Generated Image
World shares mostly gain as US ups economic pressure on Iran
AP News • • business
Key Points:
- Shares in Europe and Asia mostly rose Tuesday following a mixed finish in U.S. markets ahead of key events later in the week, with Germany’s DAX up 0.5% and Tokyo’s Nikkei gaining 0.5%.
- U.S. Treasury Secretary Scott Bessent announced new sanctions against Iran, warning of retaliation for countries continuing business with the Islamic Republic, which contributed to a decline in oil prices.
- Technology stocks led declines in the U.S. on Monday amid concerns over AI sector profits, with chipmakers like Nvidia and Micron Technology falling ahead of upcoming earnings reports.
- U.S. Treasury yields eased slightly after the Treasury Department increased planned buybacks of Treasurys, providing some relief to bond markets, though underlying inflation and debt concerns persist.
- Federal Reserve Chairman Kevin Warsh is expected to address inflation and monetary policy in a speech Friday at the Jackson Hole economic symposium, a key event for market watchers.
