Mercedes-Benz looks to roll out more models offering customisation
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Time of India
an hour ago
- Time of India
US stock markets today: Wall Street opens lower amid Iran-Israel conflict, Dow drops over 500 points, Nasdaq and S&P 500 follow suit
The US stock market opened sharply lower on Friday as investors reacted to a surge in oil prices and rising bond yields after Israel launched a wave of airstrikes on Iran, escalating Middle East tensions. The Dow Jones Industrial Average dropped over 480 points, down 1.12%, while the Nasdaq and S&P 500 also slipped, pressured by growing concerns around inflation and economic uncertainty, initial minutes of trading. As of 9:54am ET, the Dow Jones Industrial Average was down 573 points (-1.33%) at 42,394.48, while the S&P 500 dropped 49.15 points (-0.81%) to 5,996.11, and the Nasdaq fell 170.12 points (-0.87%) to 19,492.36. Meanwhile, safe-haven assets like gold rallied strongly, climbing nearly 1.75%, as risk appetite waned. Oil prices jumped nearly 8%, intensifying worries about supply constraints and their potential impact on the economy. The 10-year Treasury yield ticked higher to 4.385%, reflecting ongoing shifts in interest rate expectations. Currency markets also saw the dollar strengthen against the euro, signaling increased demand for US assets. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Idols - Handmade Brass Statues for Home & Gifting Luxeartisanship Buy Now Undo Shares of oil companies like Chevron and oil services players such as Halliburton rallied as oil prices surged about eight percent following the Israeli strike, AFP reported. Meanwhile, Brazilian meat giant JBS shares fell 6% in early trading Friday as the company made its long-awaited debut on the New York Stock Exchange, AP reported. The listing marks a major milestone for JBS, which was founded 72 years ago and has grown into one of the world's largest meat producers. The US is a critical market for the company, accounting for roughly half of its annual revenue and employing over 72,000 people. JBS is currently the largest beef producer in the US and ranks second in poultry and pork production. The move to list in New York follows a shareholder vote last month in favor of the company's dual-listing plan on both the São Paulo and New York stock exchanges. The approval came despite vocal opposition from US lawmakers, environmental organizations, and others who pointed to JBS's history of corruption, monopolistic practices, and environmental damage. JBS has defended the dual listing as a strategy to broaden its investor base and improve access to financing. The company said the move would allow it to secure "more competitive interest rates," supporting its future growth. It also noted that a US listing would subject the company to "more oversight from regulators." The US Securities and Exchange Commission approved JBS's listing plan last month. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
an hour ago
- Time of India
ET Market Watch: Friday the 13th Crash: Sensex Sinks, Crude Spikes, Gold Nears Record
Transcript Welcome to ET Market Watch, your quick fix on the day's biggest market movers. I am Neha Vashisht Mahajan - your host of the evening. It's Friday, June 13. Today was a turbulent day for investors, both emotionally and financially. Let's start with the numbers. The Sensex fell 573 points to close at 81,118, while the Nifty50 ended 169 points lower, settling at 24,718. Earlier in the day, markets were in freefall — with the Sensex down over 1,300 points and Nifty hitting an intraday low of 24,473. So, what triggered the sell-off? Reason #1: Israel strikes Iran In a dramatic escalation of Middle East tensions, Israel launched a preemptive military strike on Iran's capital, Tehran. The airstrikes reportedly targeted nuclear sites, missile factories, and top Iranian commanders, including Revolutionary Guards chief Hossein Salami, whose death has been confirmed by Iranian state media. A state of emergency has been declared in Israel, and markets fear retaliatory attacks. Washington has distanced itself from the strike, calling it a 'unilateral action.' This geopolitical flashpoint shook global markets — and India wasn't spared. Reason #2: Crude oil prices spiked Brent crude surged over 6.6% to $74.15, after hitting $78.50 — the highest since January. WTI crude wasn't far behind, rising 7.3% to $72.91. Markets are worried that if Iran retaliates by blocking the Strait of Hormuz, oil supply could be severely restricted. And we've seen this story before — back in 2022, similar fears sent energy prices soaring. Reason #3: Global sell-off The ripple effect extended beyond oil. Asian markets tumbled — Japan's Nikkei, South Korea's KOSPI, and Hong Kong's Hang Seng all lost over 1%. In Europe, the DAX, CAC 40, and Euro Stoxx followed suit. The mood? Risk-off. Safe-haven rally As panic set in, investors fled to safety. Gold shot up to $3,416 per ounce, approaching its all-time high. The Swiss franc and Japanese yen gained. US 10-year Treasury yields dropped to a one-month low of 4.31%. And the Dollar Index climbed 0.5% — classic flight-to-safety. Closing Thought: The BSE's market capitalisation dropped by ₹2.17 lakh crore, wiping out a chunk of investor wealth in just a few hours. It's a reminder that in today's connected world, geopolitics and markets move hand in hand. That's all for today on ET Market Watch. We'll keep watching the numbers — and the world behind them.
Economic Times
an hour ago
- Economic Times
Sebi Promotes CeFCoM for Secure Payments to Investment Advisers and Research Analysts
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
