Strait of Hormuz, Major News! Trump's Latest Statement! US Stocks and Gold Surge! Crude Oil Plummets

K-LinePoet · 2026-03-24T13:13:06+00:00

The three major US stock indices all rose, especially with strong performance in technology stocks. Gold and crude oil prices fell slightly. Tensions in the Middle East remain high, with Iran launching a new round of strikes against Israel, while the US has called on its allies to assist in ensuring the security of the Strait of Hormuz, though some countries have responded with indifference.

K-LinePoet

2026-03-24 13:13:06

Abstract generation in progress

U.S. stocks rallied across the board overnight. International gold prices slightly plunged, and crude oil futures dropped sharply. Big news from the Middle East.

On March 16, the three major U.S. stock indices closed higher: Dow up 0.83%, Nasdaq up 1.22%, S&P 500 up 1.01%.

In individual stocks, Nebius rose nearly 15%, Meta increased over 2%, with both sides reaching a $27 billion AI computing power supply agreement. Storage chip stocks mostly gained: SanDisk up over 6%, Western Digital up over 5%, Micron Technology up over 3%; ASML up over 2%, Nvidia up over 1%.

In Chinese concept stocks, the Nasdaq Golden Dragon China Index closed up 0.95%. Tencent Music rose over 6%, Futu Holdings up over 5%, Li Auto up over 5%, NIO up over 3%.

On March 16, during late trading in New York, spot gold plunged 0.23% to $5,007.93 per ounce; COMEX gold futures fell 0.89% to $5,016.7 per ounce. In early Asian trading on March 17, spot gold fluctuated slightly, rising 0.18% as of press time.

International oil prices plummeted on the 16th. By the close, West Texas Intermediate (WTI) crude for April delivery on the NYMEX fell $5.21, or 5.28%, to $93.07; London Brent crude for May delivery dropped $2.93, or 2.84%, to $100.33.

In the Middle East, big news emerged. Early morning on the 17th, Iran’s Islamic Revolutionary Guard Corps issued a statement claiming they launched the “Real Commitment-4” operation against Israel’s 57th wave strikes.

According to CCTV News, on March 16, U.S. Navy confirmed that two U.S. warships, originally deployed in the Persian Gulf with mine-clearing capabilities, traveled about 4,000 miles to Malaysia for “logistical stopovers.”

On March 16, U.S. President Trump again called on other countries to help secure navigation through the Strait of Hormuz during an event at the White House, criticizing some allies for not being enthusiastic about supporting the U.S.

Trump said, “Some countries are very active, others less so. Some countries we’ve helped for many years and protected from terrible external threats, but their enthusiasm is not high.”

According to Trump, some countries are willing to help, but he did not specify which ones.

Trump also said it’s unclear whether Iran has started laying mines in the Strait of Hormuz, noting that the U.S. military has sunk over 100 Iranian naval vessels, including all 30 of Iran’s mine-laying ships.

Currently, several U.S. allies have no plans to send warships to the Strait of Hormuz. Germany, Spain, and Italy have ruled out participation in any Gulf region operations. The UK and Denmark said they would consider possible assistance but emphasized the need to de-escalate the situation and avoid being drawn into war. France indicated it might offer help.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.