On Wednesday, the U.S. Dollar Index rose initially but then fell, plummeting sharply ahead of the U.S. trading session amid market speculation that the Japanese government had intervened. It ultimately closed down 0.1% at 99.56;The USD/JPY pair also plummeted during the U.S. and Japanese trading sessions, falling below 159, and ultimately closed down 0.92% at 158.69;The yield on the benchmark 10-year U.S. Treasury note closed down 1.9 basis points at 4.784%, while the yield on the 2-year U.S. Treasury note—which is sensitive to the Fed’s policy rate—closed down 3.1 basis points at 4.379%.
As U.S. Treasury yields and the dollar retreated, spot gold rebounded, briefly approaching $4,400, and ultimately closed up 1.35% at $4,387.43 per ounce;Spot silver ultimately closed up 1.94% at $65.31 per ounce.
As the market continued to assess the impact of renewed military strikes between the U.S. and Iran, crude oil prices rose initially but then fell.WTI crude briefly surpassed the $90 mark during the session but then quickly retreated, giving up all of its intraday gains, and ultimately closed down 0.28% at $89.12 per barrel; Brent crude closed down 0.11% at $94.30 per barrel.
The three major U.S. stock indexes closed higher, with the Dow Jones Industrial Average up 0.56%, the S&P 500 up 0.46%, and the Nasdaq up 0.45%. Nvidia (NVDA.O) and Oracle rose 3%,SK Hynix (SKHY.O) and Micron Technology (MU.O) rose more than 2%, while Dell (DELL.N) surged 15.7%. The Nasdaq China Golden Dragon Index closed down 0.06%, with NIO (NIO.N) falling 5%.
Major European stock indices closed lower across the board, with Germany’s DAX 30 index down 0.5%, the UK’s FTSE 100 index down 0.3%, and the Euro Stoxx 50 index down 0.11%.