[Breaking] New York Stock Market Opens Lower Across the Board Following Iran Missile Attack... Dow Hit Hard by Oil Price Surge

As of 10:40 PM Korean Time on the 29th (9:40 AM U.S. Eastern Time, 10 minutes after the opening bell), the three major New York stock indices all started the session lower.

Major Index Movements

• Dow Jones Industrial Average: Down 417.44 points from the previous day to 52,329.88 (intraday high of 52,674.21, low of 52,273.90)
• S&P 500 Index: Down 7.62 points to 7,421.60
• Nasdaq Composite Index: Down 24.53 points to 24,852.39
• Russell 2000 Index: Down 6.65 points to 2,947.15

On the previous day (the 28th), the Dow closed up 537.24 points (1.03%) at 52,747.32, buoyed by strong earnings from Sherwin-Williams, Coca-Cola, and IBM, but it is now giving back a significant portion of those gains within a single day.

Direct Cause of the Decline: Heightened Geopolitical Risk

U.S. Central Command announced that the previous night, Iran's Revolutionary Guard Corps attempted a surprise attack by launching ballistic missiles targeting U.S. forces. President Donald Trump signaled a strong response against Iran.

In the wake of this, international oil prices surged. Brent crude rose 6.6% to $89.61 per barrel, and WTI climbed 6.9% to $89.88. This is why the Dow, which has a higher weighting in oil and commodities, took a relatively harder hit than the tech-heavy Nasdaq and S&P 500.

Cautious Sentiment Spreads Ahead of FOMC Decision

The Federal Open Market Committee (FOMC) decision scheduled for today is also fueling market caution. Fed Chair Kevin Wash has not provided a clear signal on the future policy direction, and the market is pricing in approximately a 30% probability of an interest rate hike.

Shockwaves Ripple Through Korean Market... Impact of SK Hynix Earnings Report

SK Hynix, which released its earnings the previous day, reported a 557% year-over-year increase in second-quarter operating profit, yet fell short of market expectations. This has fueled concerns that the pace of expansion in AI investment may be slowing.

As a result, the Korean KOSPI triggered circuit breakers for two consecutive days, plunging 8%, while SK Hynix and Samsung Electronics dropped nearly 13% and 8%, respectively. The U.S. Nasdaq 100 is also nearing a technical correction amid a semiconductor sell-off.

--- *This article is investment reference information based on publicly available market data and does not recommend the purchase or sale of any specific stock. Investment decisions and their associated responsibilities lie solely with the investor.*