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Midnight! US stocks and gold rally collectively, Chinese stocks surge! Oil prices plummet
On the evening of March 13, the three major U.S. stock indices all opened higher and continued to rise. International gold prices surged, while oil prices initially plummeted.
As of the time of writing, the Dow Jones Industrial Average increased by 0.85%, with the Nasdaq and S&P 500 both rising nearly 0.9%.
In early trading, chip stocks rebounded, with Nvidia, ASML, Western Digital, TSMC, Intel, and SanDisk all up over 1%.
Chinese concept stocks surged. As of the time of writing, the Nasdaq Golden Dragon China Index rose over 1.8%. NIO increased by over 4%, while Bilibili, Tencent Music, and KE Holdings each gained more than 2%.
International gold and silver prices rose during trading. As of the time of writing, spot gold increased by 0.7%.
Cryptocurrencies broadly rallied. As of the time of writing, Bitcoin was up over 5%, and Ethereum increased over 6%.
Recently, the upward trend in oil prices reversed today. International crude oil futures prices plunged during trading, with declines expanding to 2%. As of the time of writing, they are still down nearly 1.4%.
On the news front, according to media reports, U.S. Secretary of Defense Lloyd Austin downplayed concerns that the closure of the Strait of Hormuz caused by war would be an ongoing issue. He stated at a Pentagon press conference, “We’ve been dealing with this issue, no need to worry.”
According to CCTV News, Ukrainian President Zelensky said at a press conference in Paris on March 13 that, given the U.S. decision to partially ease sanctions on Russian oil, this could bring about approximately $10 billion in war funding for Russia.
Additionally, CCTV News cited U.S. sources saying that President Trump, during a G7 leaders’ video conference on the 11th, “boasted” that Iran was “about to surrender,” but in fact, “the Iranian regime has shown no signs of surrender or collapse.”
Sources familiar with the matter said that Trump claimed during the G7 video call that Iran was “about to surrender,” but Iran “no longer has anyone who can declare surrender.”
U.S. Secretary of Defense Lloyd Austin on the 13th stated that the U.S. plans to destroy all of Iran’s military capabilities that pose a threat.