Market Movements
stocks experienced significant declines with the , , and composite dropping 0.8%, 0.7%, and 0.9% respectively, driven by a surge in oil prices amid escalating tensions between and .
The downturn in the stock market was compounded by a weaker-than-expected report on U.S. retail sales, sparking concerns over the potential slowdown in one of the key engines of the U.S. economy.
Sector Performances and Federal Reserve's Role
Solar industry stocks plummeted, with and seeing substantial losses, due to the dual impact of rising oil prices and concerns over the potential phaseout of tax credits for renewable energy sources.
Amidst these market fluctuations, attention turned to the 's two-day meeting on interest rates, with widespread expectation that the Fed would maintain rates, reflecting its cautious stance in the face of economic uncertainties linked to geopolitical tensions and trade policies.