Huo Xing Finance reports: On Friday, July 24, at 12:01 p.m. Eastern Time (12:00 p.m. Beijing Time), the United States will implement a new import tariff arrangement with rates ranging from 10% to 12.5%, applicable to approximately 60 economies. Additionally, Trump stated that he is “seriously considering” restarting large-scale military operations against Iran and is nearing a decision. Iran seeks negotiations, but it is not yet ready—it has not suffered enough. If the Houthi militants launch another attack on ships, the U.S. will hold Iran accountable. The U.S. has deployed B-1 bombers, escalating attacks against Iran. According to BIT (bit.com) market data, at the close of trading on Thursday in the U.S., the Dow Jones Industrial Average fell 0.97%, the S&P 500 dropped 1.2%, and the Nasdaq Composite declined 2.15%. Micron Technology (MU.O) rose 3%, SK Hynix (SKHY.O) gained 2.5%, Google (GOOG.O) plunged 7%, Tesla (TSLA.O) dropped 14.5%, and SpaceX (SPCX.O) rose over 2%. According to market data, Bitcoin is currently trading at $65,190, down 1.05% over the past 24 hours. International oil prices surged significantly on July 23. At the close of trading, the September delivery contract for West Texas Intermediate crude oil on the New York Mercantile Exchange rose $5.36 to $92.19 per barrel, a 6.17% increase; the September delivery contract for Brent crude oil on the London ICE exchange rose $6.62 to $100.69 per barrel—the first closing above $100 since May—with a 7.04% gain.
U.S. tariff increase and rising tensions with Iran push oil prices higher, while tech stocks drag down U.S. indices.
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Summary
The Fear and Greed Index dropped sharply on July 24 as the U.S. imposed new import tariffs of 10% to 12.5% on 60 economies. Escalating tensions with Iran, including the deployment of B-1 bombers, pushed oil prices above $100 per barrel. U.S. tech stocks declined, pulling down major indices. The Nasdaq fell 2.15%, Tesla dropped 14.5%, and rising interest rate expectations further fueled market unease.
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