The US-Iran Conflict Escalation Boosts Oil Prices, Pressures US Stocks; Global Sovereign Bond Yields Hit Multi-Year Highs, US Stock Market Storage, Optical Communication, and Cryptocurrency Sectors All Decline

BlockBeats News, September 2nd, according to BIT (bit.com) market data, the US-Iran conflict escalated, with the US military starting to strike targets within Iran, Trump stated that if Iran retaliates, it will face a more severe attack, and Iran simultaneously began to strike back. The conflict boosted oil prices, suppressed US stocks and cryptocurrencies, with Bitcoin briefly falling below $77,000. At the US stock market close, the Dow fell by 0.79%, the S&P 500 fell by 0.71%, and the Nasdaq fell by 1.03%. The US stock sectors of semiconductors, storage, optical communication, and cryptocurrency all experienced a widespread decline. The global sovereign bond yield index hit a new high since 2008, and the 10-year US Treasury yield reached a nearly 20-month high. The US Dollar Index rebounded, approaching a two-week high, while the Japanese Yen broke below 160 and fell to a new low since the US intervention in the foreign exchange market at the end of July.

In the US stock semiconductor and storage sectors: Seagate Technology (STX) fell by 1.42%; Western Digital (WDC) fell by 0.02%; SanDisk (SNDK) fell by 1.90%; Micron Technology (MU) fell by 2.64%; NVIDIA (NVDA) fell by 1.51%; Intel (INTC) fell by 0.60%; Advanced Micro Devices (AMD) fell by 2.36%; Broadcom (AVGO) fell by 0.18%; Qualcomm (QCOM) fell by 2.27%.

In the cryptocurrency-related stocks: MicroStrategy (MSTR) fell by 6.06%; Coinbase (COIN) fell by 6.01%; Circle (CRCL) fell by 6.35%; BitMine Immersion (BMNR) fell by 7.70%.

In the optical communication concept stocks: Marvell Technology (MRVL) fell by 0.60%; AAOI (Applied Optoelectronics) fell by 3.99%; LITE (Lumentum Holdings) fell by 5.01%; COHR (Coherent Corp.) fell by 2.09%; CIEN (Ciena Corporation) fell by 5.87%; NOK (Nokia) fell by 2.07%.

According to Bitget market data, Brent crude oil surged by 4.5%, now trading at $94.5 per barrel.