Global Asset Prices Fluctuate Amid U.S. and Israel's Actions Against Iran

Recent major events have seen the United States and Israel launch attacks on Iran, leading to a surge in oil prices and significant fluctuations in global asset prices. According to Ming Pao, all three major U.S. stock indices experienced declines, with the Dow Jones Industrial Average falling 3% over the week, the S&P 500 dropping 2%, and the Nasdaq Composite decreasing by 1.2%. Year-to-date, the Dow's gains have been completely erased, resulting in a 1% decline, while the S&P 500 has fallen by 1.5% and the Nasdaq by 3.7%. Notably, despite its weaker performance since the end of last year, the Nasdaq managed to outperform the other two indices during the week of market turmoil triggered by the outbreak of war. Further insights into this development will be discussed later.