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New York Stock Exchange closed the day with a decline

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At the closing, the Dow Jones index decreased by approximately 200 points, falling by 0.44% to 42,011.59 points. The S&P 500 index dropped by 0.17% to 5,699.94 points, while the Nasdaq index also slipped by 0.04% to 17,918.48 points. Ahead of an important employment report to be released tomorrow in the US, investors acted cautiously amid the possibility of escalating tensions in the Middle East. These concerns led to a generally negative trend in the stock markets. International Monetary Fund (IMF) spokesperson Julie Kozack stated that escalating conflicts in the Middle East could increase economic uncertainties and have significant consequences for the region and beyond. US President Joe Biden left the possibility of an attack by Israel on Iranian-owned oil facilities open by saying, “We are discussing this right now,” but he mentioned that he did not expect such an attack today. Following these statements, there was a sharp increase in oil prices. The price of a barrel of Brent crude oil rose by 5.2% to $77.74, while a barrel of West Texas Intermediate (WTI) crude oil also increased by the same rate to trade at $73.75. Looking at macroeconomic data, the number of first-time applicants for unemployment benefits in the US increased by 225,000 in the week ending September 28, exceeding expectations. In addition, the Institute for Supply Management’s (ISM) Services Purchasing Managers Index (PMI) in the US rose by 3.4 points to 54.9 in September, surpassing expectations and reaching its highest level since February 2023. On the other hand, the S&P Global’s service sector PMI data for September in the US was revised downward to 55.2. Factory orders also fell by 0.2% in August, remaining below expectations. Statements from Federal Reserve (Fed) officials were closely monitored as well. Chicago Fed President Austan Goolsbee warned about the potential price increases due to workers going on strike at ports on the East and South coasts of the US. Goolsbee mentioned that retailers and manufacturers had stocked up on two weeks’ worth of products in anticipation of a strike, but if the strike continues, supply chain disruptions could further raise prices.

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