Wall Street under pressure over inflation risks, oil prices and US government finances

Street sign on New York's Wall Street. Photo: dpa

Dusseldorf. After a lossy previous day, the major US indices started Thursday cautiously.

The Dow Jones of standard stocks lost 0.5 percent to 51,233 points.

The broad S&P 500 recorded a loss of 0.4 percent at 7,673 points.

The technology-heavy Nasdaq is giving up around 0.7 percent

7,673 points.

The Nasdaq 100, a reflection of the 100 non-financial companies with the highest market capitalization, is down about 0.7 percent

30,248 counters.

The high oil price continues to have a negative impact. North Sea Brent crude oil for delivery in November rose in price by 3.6 percent to almost $107 per barrel (159 liters). The Brent price had already risen by more than four percent at times on Wednesday, while it had only fallen at the beginning of the week.

Investors are torn between the hope of a resolution to the conflict between the USA and Iran and the prospect of a continued difficult supply situation for the time being, experts explained.

The reason for the increase in oil prices is the ongoing tense situation in the Middle East. The Strait of Hormuz, which is important for oil transport, is still barely navigable. On Wednesday, Secretary of Iran's Supreme National Security Council, Mohsen Rezaei, said the Strait of Hormuz would not be reopened until Iran's conditions were met.