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Wall Street Closed Mixed on Monday


London, Monday, 27 March 2023


The Dow Jones and S&P 500 ended the day Monday up, but Nasdaq was down due to tech issues after the US charged Binance, the largest cryptocurrency exchange site in the world.


The blue-chip Dow finished the first business day of the week at 32,432 after gaining 194 points, or 0.6%. To reach 3,977, the S&P 500 gained 6 points, or 0.16%.


The exchanges gained as investors' concerns about the US banking industry were allayed by a purchase of the failed Silicon Valley Bank.


Tech-heavy The Nasdaq, on the other hand, lost 55 points, or 0.47%, to end the afternoon at 11,768.


After the US Commodity Futures Trading Commission accused cryptocurrency platform Binance of "willful evasion of federal law" and "operating an illegal digital asset derivatives exchange," stocks of technology firms experienced losses and concerns.


The 10-year US Treasury yield increased 4.6% to 3.535%, while the VIX volatility indicator, also known as the fear index, fell 5.1% to 20.63.


The euro increased by 0.36% to $1.0797 against the dollar while the dollar index fell by 0.26% to 102.85.


The price of precious metals was down, with gold down 1.1% to $1,957 per ounce and silver down 0.7% to $23.08.


With US benchmark West Texas Intermediate crude at $73.03 and worldwide benchmark Brent crude at $77.84 per barrel, the price of crude oil increased by about 4%.


(Report by: Jonathan Davies, Finance editor - The Decision Maker)



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