【US Stock Market Update】Brent Crude Oil Earlier Dropped 5% Below $100 Mark; Dow Jones Up 580 Points (Continuously Updated)

Iran reiterates that non-hostile ships can pass safely through the Strait of Hormuz with coordination. Marine Traffic data shows that from Monday (23rd) to now, nine ships have passed through the Strait of Hormuz. The news caused oil prices to retreat, with NYMEX May crude falling 4.8% to $87.92, and Brent May crude dropping 5.1% to $99.14.

Iran’s war negotiations are “warming up,” and U.S. stocks rose at the open on Wednesday, with the Dow up 580 points to 46,704, the S&P up 70 points to 6,627, and the Nasdaq up 271 points or 1.3% to 220,333. NY gold rose 3.5% to $4,588, and spot gold increased 1.8% to $4,556.

In focus stocks, Tesla’s official release of the Optimus video and details about the robot, including development environment, reduction gearboxes, and dexterous hands, was announced. Tesla Optimus states that it will fundamentally change the labor force and manufacturing economy. Elon Musk said Optimus 3 is expected to start production this summer and could achieve mass production by 2027. Tesla (NASDAQ: TSLA) pre-market rose over 1%, currently at $389.14.

Memory stocks sharply declined against the trend, with Micron (NASDAQ: MU) opening down 6%, and SanDisk (NASDAQ: SNDK) dropping more than 7%. The decline is mainly due to South Korea’s SK Hynix (KRX: 000660) planning to list in the U.S.

Foreign media reports that SK Hynix has submitted confidential filings to the U.S. Securities and Exchange Commission (SEC), planning to issue American Depositary Receipts (ADRs) within the year. SK Hynix’s spokesperson responded that measures to enhance shareholder value, including issuing ADRs, are under review, but no final decision has been made.

Hong Kong stocks and ADR markets are continuously updated. For details, see: Next page

Market Trends:

【17:55】Iran war negotiations “warming up” Dow futures up 365 points, Nasdaq futures up 1%, Brent crude down 4%, falling below $100

【14:54】Dow futures up 339 points to 46,754, S&P futures up 42 points to 6,648, Nasdaq futures up 160 points or 0.7% to 24,374.

【14:54】NYMEX crude down 3.4% to $89.2, Brent crude down 4% to $100.3. Spot gold up 3.3% to $4,578, and spot gold increased 1.7% to $4,549.

【13:57】【AI+Sora】OpenAI suddenly halts Sora AI video generation, shocking the market. Disney’s project meeting ended 30 minutes before, and OpenAI was still promoting Sora the day before.

【13:52】【AI+IPO】SK Hynix plans to go public in the U.S. within the year, has filed with SEC, and is rumored to raise up to $10 billion.

【13:32】【US Stock Analysis】U.S. proposes ceasefire with Iran, Dow futures up over 300 points. Analysis: Trump TACO, two major issues to watch in the future.

【11:01】【Iran Situation】JPMorgan’s Dimon: Long-term conflict could lead to lasting peace in the Middle East, as regional powers’ interests align.

【10:48】【US-China Relations】Chinese investment firms are reportedly reconsidering allocations to U.S. asset managers.

【10:26】【AI+AAPL】Is Siri no longer just a voice assistant? Apple upgrades Siri to a chat robot with new “Ask Siri” feature, expected to debut at WWDC in June.

【10:00】【Yen Trend】Yen to HKD at 4.93. Bank of Japan minutes: some members suggest timely rate hikes to address inflation.

【09:58】【US Rate Cuts】Federal Reserve Board member Bullard: Rates may need to stay unchanged “for some time,” with Middle East tensions adding “additional risks.”

【09:39】【Gold Price Trend】Gold ends nine consecutive declines! Spot gold back above $4,500, with a daily increase of HKD 1,800 per tael.

【08:54】【ARM+Chips】Arm rises 8% after hours, plans to sell its own chips for the first time, expected to generate about $15 billion annually in five years. Meta is its first major customer.

【08:26】【IPO】SpaceX reportedly plans to submit an IPO application as early as this week, potentially raising over $75 billion.

【08:23】【Iran Crisis】Trump: Iran will send a big gift today. Rubio and Vance involved in negotiations, on the premise that “nuclear weapons must not be possessed” (ongoing updates).

【08:01】【AI+Amazon】Software stocks hit hard again, Amazon reportedly developing new AI agents to replace some departmental functions.

$1 or less for March 24 U.S. stock market overview====

Tuesday: US seeks talks with Iran on Thursday, Brent steady, Dow narrows losses

Multiple US media report that the US is engaging with Iran on a ceasefire plan. Axios reports that the US and mediators are discussing the possibility of high-level talks on Thursday, but are still waiting for Tehran’s response.

Market close updates:

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Iranian officials deny Trump’s claims of behind-the-scenes negotiations but confirm that the US has sent messages and proposals.

Oil prices are cautious; Brent up 0.2% to $100.17, NYMEX crude up 4.8% to $92.35.

Gold rebounds, spot gold up 1.6% to $4,475.51, silver steady at $71.2194.

The US dollar index rises 0.3% to 99.23, 10-year US Treasury yield at 4.36%.

US stocks are slightly weaker; Dow once down 438 points to 45,769, closing down 84 points at 46,124; S&P down 0.4% to 6,556; Nasdaq down 0.8% to 21,761.

Trump has delayed the final ultimatum by 5 days, but sporadic attacks continue between Israel and Iran. Pakistan’s prime minister says he is willing to host US-Iran talks to resolve ongoing conflicts.

Market reports indicate Iran has begun collecting transit fees from some ships passing through the Strait of Hormuz, charged on a per-ship basis, with a maximum of $2 million per voyage, effectively establishing an informal “toll” on this waterway. Some ships have paid, but the specific mechanism and currency used are unclear.

According to Iran’s Tasnim News Agency, after close coordination with Iranian authorities, a Thai-flagged ship successfully passed through the Strait of Hormuz on Tuesday.

Israeli media Ynet quotes local officials that the US has set April 9 as the target date to end the Iran conflict, meaning over half a month is allocated for fighting and negotiations. Washington is striving to end hostilities by the end of April.

Reports suggest that if the conflict ends around April 9, Trump plans to visit Israel around May 14, the date of Israeli Independence. Pakistan and other countries are actively mediating, trying to arrange indirect US-Iran communication, possibly initial contacts this week in Pakistan, but no formal confirmation from either side.

Additionally, according to CCTV citing Russian media, Omani journalist and international relations researcher Salem Al-Jahuri confirmed on BBC Arabic that the US is pressuring Gulf countries to pay huge costs for US involvement in Iran conflicts.

The report states Trump is demanding large “protection fees” from Arab allies—either $5 trillion (about HKD 39 trillion) to continue the conflict or $2.5 trillion (about HKD 19.5 trillion) to end it, claiming this as compensation for “achieved results.”

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Market Trends:

【22:50】Iran collecting “toll” from ships passing through the Strait of Hormuz, Dow down 88 points, Nasdaq down 0.6%, oil rebounds 3%

【21:30】Pakistan ready to host US-Iran talks, Dow down 338 points, Nasdaq down 0.6%, oil rebounds 4%

【18:00】【Iran Crisis】Is there a glimmer of hope for US-Iran war? Trump reportedly demands huge protection fee: $2.5 trillion to end the war

【16:00】【Iran Crisis】US sets April 9 as “End of War” date, Iran continues to deny

【14:00】Dow futures down 258 points to 46,264, S&P futures down 38 points to 6,596, Nasdaq futures down 150 points or 0.6% to 24,258.

【14:00】Oil prices rebound; NYMEX crude at $91.6, up nearly 4%, Brent crude at $103.4, up 3.4%. Gold continues to weaken; NY spot gold down 0.9% to $4,400, spot gold at $4,357.

【14:00】【Iran Crisis】DBS: Short-term gold prices likely to fluctuate with Middle East conflict, maintaining a target of $6,250 by end of year.

【13:23】【AI+OpenAI】OpenAI reportedly offers generous terms to private equity firms, with a 17.5% minimum return, competing for enterprise AI market.

【13:08】【OnlyFans】Billionaire owner Leonid Radvinsky of OnlyFans dies of cancer at age 43.

【12:34】【Gold Price Trend】Gold continues its nine-day decline, with HKD 1,000 per tael drop from high levels, gold price below HKD 40,000 per two.

【12:15】【Switch 2】Nintendo plans to cut Switch 2 production by about 33% this quarter, with cuts possibly continuing into April.

【11:51】【Gold Price Trend】Gold falls over 20% from high, entering a bear market. Morgan Stanley: Funds are flowing from safe-haven assets into stocks, a positive signal for US equities.

【11:19】【Iran Crisis】Prime Minister Suga orders assessment of oil-related supply chains to respond to the crisis; Ministry of Finance reportedly consulting on possible intervention in crude oil futures.

【10:36】【AI+Investing】BlackRock CEO: AI wave may exacerbate wealth inequality; investors should hedge impacts through stock holdings.

【08:37】【AI+OpenAI】OpenAI states reliance on Microsoft in investor documents as a risk—what other risks exist?

【08:08】【Iran Crisis】Federal Reserve official Daly: US economy faces at least two scenarios; the Fed needs to stay flexible to manage risks.

【07:48】【AI+Apple】Apple’s annual Worldwide Developers Conference WWDC26 scheduled for June 8, expected to unveil a series of AI features.

【06:32】【Iran Crisis】Iranian Parliament Speaker denies negotiations with Trump; UK destroyer “HMS Dragon” arrives in the Mediterranean (ongoing updates).

$1 or less for March 23 U.S. stock market overview====

Monday: Trump comments still questioned, Dow halves gains to 631 points, oil down 10%

US President Trump claims negotiations with Iran have paused attacks on power plants, causing oil prices to fall and stocks to rebound. The Dow once rose 1,134 points to a high of 46,712, the S&P rose 2.2% to 6,651, and the Nasdaq rose 2.5% to 22,189. By close, gains narrowed: Dow up 631 points to 46,208, S&P up 1.1% to 6,581, Nasdaq up 1.4% to 21,946.

Market close updates:

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Oil once fell 14.1%, closing down 10%, NYMEX crude at $88.13, Brent at $100.5. Spot gold fell 7% to a low of $4,099.18, closing down 1.9% at $4,407.18.

Macquarie’s global FX and rates strategist Thierry Wizman said, “We remain cautious about early reports of ‘breakthroughs’ and tweets,” believing that the war is unlikely to continue past April, as Iran’s threat may weaken. However, large-scale military action within this week is also unlikely.

Trump posted on Truth Social that negotiations with Iran went smoothly over the past two days, and he has instructed the US military to suspend all attacks on Iran’s power plants and energy infrastructure for five days, contingent on ongoing meetings and discussions.

Trump later said that the two sides had reached multiple agreements and discussed Iran’s leadership candidates, claiming Iran has agreed to abandon nuclear weapons. He also warned that if negotiations break down, bombing will continue.

However, Iran’s Tasnim News Agency later quoted Iranian sources denying any negotiations with the US, stating that no talks have taken place. They also indicated that US attacks continue, and the Strait of Hormuz will not return to pre-conflict status. Another agency, Mehr, citing Iran’s Foreign Ministry, said Trump’s comments aim to lower energy prices and buy time for military plans.

Iran’s Foreign Ministry also stated that some initiatives to ease tensions are underway, but Iran’s response is that the US should be the dialogue partner, as Iran did not initiate the war.

Trump further responded that negotiations took place on the evening of Sunday (22nd), emphasizing Iran’s urgent desire for an agreement, and expressed confusion over why Iranian media refutes his statements.

T. Rowe Price noted that after Iran was attacked, gold prices initially surged as a safe haven, but the rally was short-lived as markets quickly reinterpreted the event’s significance. Investors did not see it as a sustained geopolitical shock but rather as inflation driven by energy prices. This shift pushed real yields higher, strengthened the dollar, and dampened gold’s appeal.

Gold had already gained significantly before the event, limiting further safe-haven inflows. The outlook suggests gold prices will continue to be influenced by macro and geopolitical factors. In the short term, real yields and central bank policies will be key, along with energy prices and the dollar trend. The firm still views gold as a strategic asset rather than a short-term trading tool. Structural demand from central banks and policy uncertainty support gold, despite potential short-term volatility.

Hong Kong stocks and ADR markets are continuously updated. For details, see: Next page

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Market Trends:

【22:15】Trump: If US-Iran talks break down, bombing will continue; Dow rebounds 890 points, oil down 10%

【21:30】Trump delays final ultimatum by 5 days, says US-Iran negotiations ongoing; Dow up 744 points, oil down 8%

【20:10】Iran denies negotiations; Dow futures narrow gains, oil down 5%

【19:10】Trump: Progress in talks with Iran, delays final ultimatum 5 days; Dow futures up 1,207 points, Nasdaq futures up 2.2%, oil drops 10%

【14:13】Dow futures down 200 points to 45,693, S&P futures down 37 points to 6,521, Nasdaq futures down 167 points or 0.7% to 23,934.

【14:13】Oil rebounds; NY crude at $98.97, up 0.8%, Brent at $112.85, up 0.6%.

【14:13】【Gold Price Trend】Spot gold drops below $4,300, erasing this year’s gains; HKD 1,000 per tael drop, high back by HKD 10,000.

【13:25】【Oil Price Outlook】Goldman warns of “largest supply shock in history,” raising Brent forecast to $85 in 2026.

【13:15】【Iran Crisis】IEA chief: Over 40 Middle East energy assets “severely damaged,” conflict impact comparable to two oil crises in the 1970s plus 2022 Russia-Ukraine crisis.

【11:40】【Yen Trend】Yen to HKD at 4.9. Japanese officials again “export tactics”: ready to take all necessary measures to respond to exchange rate fluctuations.

【11:21】【Iran Crisis】Korean and Japanese markets face “Black Monday”; Korean stocks fall 5%, triggering sixth “Sidecar” mechanism this year; Nikkei drops over 2,600 points.

【10:56】【AI+Chips】Elon Musk: Terafab project to land in Austin, jointly operated by Tesla and SpaceX.

【07:30】【Iran Crisis】Final ultimatum countdown: Trump and Iran threaten to strike civilian infrastructure; oil volatile (ongoing updates).

【07:30】【Market Outlook】Focus on Middle East conflict, watch Fed officials’ comments; US March manufacturing PMI due Tuesday.

【07:30】Iran conflict escalates; Trump says “I don’t want a ceasefire.” Oil fluctuates; Dow drops over 600 points at times; US 10-year yield hits 6-month high, with 40% chance of rate hike in September. Dow closes down 443 points at 45,577; S&P down 1.51%; Nasdaq down 2.01%.

Market close updates:

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Dow once fell 438 points to 45,769, closing down 84 at 46,124; S&P down 0.4% to 6,556; Nasdaq down 0.8% to 21,761.

Last week’s US market activity, see: US Market Close | Trump says he doesn’t want a ceasefire, Dow down 443 points, US 10-year yield hits 6-month high, 40% chance of September rate hike.