SMI und US-Märkte unter Druck: Inflation, Zinsen und Nahost-Konflikt belasten die Aktien

The Swiss SMI is expected to open with a slight decrease of 0.1 percent after a loss of 1.8 percent on the previous day. Fears about the escalation of the Middle East conflict and the accompanying rise in oil prices are weighing on Asian equity markets. The Japanese Nikkei 225 lost 0.8 percent, while the Topix fell 0.3 percent. Asian stocks remained on the sidelines, with a fall of 0.1 percent for Shanghai and 0.2 percent for the combined index of Shanghai and Shenzhen. Geopolitical tensions, particularly Iran’s attack on ships near the Strait of Hormuz and the sinking of Iranian oil tankers by the United States, further increased uncertainty. In addition, the Bank of Japan (BOJ) signaled expectations of an accelerated interest rate increase, which weighed on oil prices and interest rate expectations. While banks and oil companies benefited from higher interest rates, companies such as Nintendo (-5.8 percent) and cable manufacturers Fujikura and Furukawa Electric suffered under the market conditions. In China, UBS withdrew its fund distribution unit in Shenzhen at the end of September as it was unable to compete in a fiercely contested market. At the same time, nervousness was reflected in the US inflation data and the monetary policy decisions of the Federal Reserve (Fed). Oil prices were supported by concerns about global supply shortages due to the escalation of the Middle East conflict, with the Brent price at 101.03 USD per barrel and the WTI price at 96.22 USD per barrel. US stock markets also showed weakness: The Dow Jones lost 0.77 percent and reached its lowest level since the end of July, while the S&P 500 fell by almost one percent. The Nasdaq 100 remained less affected, with a slight decrease of 0.29 percent, driven by positive developments at Meta, which introduced its own AI assistant. However, only chip and memory companies such as Marvell Technology (+1.5 percent) or AMD (+4.3 percent) benefited. Oil companies such as Chevron and ExxonMobil rose by up to 2.2 percent, as the Brent price was above 100 USD per barrel for the first time since July. Among the other securities, gas station chains such as Casey's (-14 percent) and software companies like ServiceTitan (-30 percent) suffered heavy losses, with ServiceTitan giving a disappointing quarterly forecast. Market participants positioned themselves cautiously ahead of the upcoming decisions of the ECB, US inflation data, and quarterly results from tech companies like Oracle and Adobe.