Global Markets Remain Muted For Second Day As Trump Deadline Nears End

Global equity markets showed a mixed trend on Monday as the United States-Israel-Iran war continued, with President Donald Trump again threatening Iran with dire consequences if the Strait of Hormuz is not opened.

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Dow Futures and S&P Futures were marginally weaker by 0.19 percent and 0.36 percent, respectively, according to Bloomberg TV, as of 1:00 ET on April 7.

The weak trend was in line with the negligible movement in US markets, where the Dow Jones gained 0.36 percent (165 points), while the S&P 500 rose by just 0.44 percent (29 points). The Nasdaq also inched higher by 0.54 percent, or 117 points, to close at around 21,996.

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On the other hand, Asian markets showed a mixed trend. Japan’s Nikkei was down by 0.15 percent, or 77 points, while South Korea’s Kospi was up by 0.28 percent. Hong Kong’s Hang Seng, however, declined by 177 points, or about 0.7 percent.

On the domestic front, India’s Sensex and Nifty opened lower by 1 percent but quickly gained to pare the losses. While Sensex was down 0.25 percent, Nifty was trading lower by 0.2 percent on Monday.

The muted movement across the markets on Tuesday follows Monday’s range-bound performance as US President Donald Trump’s deadline to Iran ends today.

Markets are in a wait-and-watch mode, say experts, and will react after there is some development on the war front.

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Trump has threatened Iran with attacks on its energy infrastructure.

Before his renewed threats, Trump had indicated leaving Iran even in the absence of a deal on the reopening of the Strait of Hormuz.

He had said the US may exit the war in 2–3 weeks, which had raised hopes of a cooling of hostilities and normalisation in trade activities.

Since Sunday, he has again started pressuring Iran to open the strait or face attacks on its crucial infrastructure like power plants and bridges.

“The entire country can be taken out in one night, and that night might be tomorrow night,” Trump had said yesterday.

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