Stocks retreat and oil tops $100 despite fresh records on Wall St
[April 23, 2026] By
CHAN HO-HIM
HONG KONG (AP) — Shares retreated in Europe and Asia on Thursday after
an initial jump that pushed Japan's Nikkei 225 index above 60,000 for
the first time, while oil prices climbed above $100 a barrel as
investors reacted to shaky prospects for more talks on ending the war
with Iran.
U.S. futures also fell back after indexes on Wall Street rallied to
records a day earlier, helped by strong corporate earnings.
Germany's DAX lost 0.5% to 24,064.00, while the CAC 40 in Paris edged
0.2% higher. Britain's FTSE 100 dropped 0.8% to 10,395.83.
The future for the S&P 500 lost 0.5% and that for the Dow Jones
Industrial Average was down 0.6%.
Markets in Japan and South Korea briefly touched new records, driven by
buying of tech shares. Tokyo’s Nikkei 225 lost 0.8% to 59,140.23 after
climbing to 60,013.98.
South Korea’s Kospi closed 0.9% higher at 6,475.81 after briefly
surpassing 6,500. The government reported a better-than-expected 1.7%
annual economic growth rate for the January-March quarter, boosted by
strong exports, particularly of computer chips used in the artificial
intelligence boom.
Hong Kong’s Hang Seng shed 1% to 25,915.20, while the Shanghai Composite
index fell 0.3% to 4,093.25.
Australia’s S&P/ASX 200 declined 0.6% to 8,793.40.
Taiwan’s Taiex lost 0.4% and the Sensex in India sank 1%.
A growing sense of unease over prospects for an end to the Iran war,
which is in its eighth week, is weighing on investor sentiment even
after U.S. President Donald Trump extended a ceasefire. It's unclear
whether and when another round of peace talks will take place.
Iran fired on three ships in the Strait of Hormuz on Wednesday after the
U.S. began imposing a sea blockade of Iranian ports last week, and Trump
said the U.S. would continue its blockade of Iranian ports.
Maritime traffic through the Strait of Hormuz, where roughly a fifth of
the world’s oil normally passed before the war, is still largely halted
and the likelihood of its reopening dimmed after Iran’s Revolutionary
Guard seized two of the three ships that were attacked.
[to top of second column] |
A person looks at an electronic stock board showing Japan's Nikkei
index at a securities firm Thursday, April 23, 2026, in Tokyo. (AP
Photo/Eugene Hoshiko)
 Global energy prices have surged on
the Iran war energy shock. Brent crude, the international standard,
was up $1.81 early Thursday at $103.72 per barrel. It was around $70
a barrel before the Iran war began in late February.
Benchmark U.S. crude rose gained $1.73 to $94.69 per barrel.
As hopes for a resolution between the U.S. and Iran fade and peace
talks stall, the oil market “is having to reprice expectations,” ING
Bank strategists Warren Patterson and Ewa Manthey said in a research
note.
“If no progress is made, the market will become increasingly numb to
the noise and headlines that have dictated price action recently,”
they wrote.
Wall Street set more records Wednesday following a series of strong
corporate earnings and an extension of the Iran war ceasefire, with
the benchmark S&P 500 jumping 1% to 7,137.90, eclipsing its previous
record high set on Friday. The Dow Jones Industrial Average climbed
0.7% to 49,490.03, while the Nasdaq composite also set a record,
gaining 1.6% to 24,657.57.
Shares of GE Vernova jumped 13.7% after the company reported
stronger-than-expected quarterly profits. The energy equipment maker
is also benefiting from the AI boom with robust equipment orders
including for data centers. Boeing gained 5.5%, and Philip Morris
International was up 7%, also following better-than-expected
results.
The U.S. dollar rose to 159.69 Japanese yen from 159.48 yen. The
euro was trading at $1.1701, down from $1.1705.
All contents © copyright 2026 Associated Press. All rights reserved
 |
