Overnight U.S. stock markets were weighed down by Middle East geopolitical tensions and other factors, with software stocks experiencing notable declines, while gold and silver prices surged sharply. Separately, a Thai oil tanker has safely passed through the Strait of Hormuz.

Uncertainty in the Middle East, U.S. macroeconomic data, and global interest rate trends collectively impacted the performance of U.S. stocks overnight. The software sector fell significantly following reports that Amazon is developing new AI tools.

On Tuesday, March 24, Eastern Time, the three major U.S. stock indices closed lower. Market sentiment was dampened by geopolitical instability in the Middle East, U.S. economic data indicating persistent inflation pressure, reduced expectations for Federal Reserve rate cuts, and growing anticipation of tighter monetary policy by global central banks.

By the close, the S&P 500 was down 0.37% at 6,556.37 points, the Nasdaq Composite fell 0.84% to 21,761.89 points, and the Dow Jones Industrial Average declined 0.18% to 46,124.06 points. Four of the 11 sectors in the S&P 500 ended lower, with communications and real estate stocks leading the declines, while energy and materials sectors performed relatively well.

Market attention remains focused on developments in the Middle East. After U.S. markets closed, reports emerged that the U.S. may soon announce a month-long ceasefire in the Iran conflict.

According to Israeli media, the U.S. intends to propose a one-month ceasefire plan to facilitate discussions with Iran on a 15-point agreement aimed at ending the war. Additionally, the U.S. is reportedly in talks with multiple mediators to hold high-level peace talks with Iran as early as this week, though it is still awaiting a response from Tehran.

Media reports indicated that Amazon’s cloud computing service platform, AWS, is developing AI agents to automate functions such as sales and business development—areas that have recently seen significant layoffs at the tech giant.

An AWS insider confirmed that the company is building an agent that “brings together expertise from various AWS departments,” enabling employees to “focus on the most complex and valuable customer challenges.”

AWS has also introduced an agent to help sales staff coordinate cloud customer deals with business partners. A former AWS employee revealed that these automation efforts appear to target tasks previously handled by recently laid-off teams. An AWS spokesperson stated that the company is not seeking to replace employees with AI, but rather to free them from repetitive tasks so they can focus on higher-level work.

Among the “Magnificent Seven” U.S. tech stocks, Amazon fell 1.38%, Google dropped 3.28%, Microsoft declined 2.68%, Facebook decreased 1.84%, and Nvidia slipped 0.25%. Apple and Tesla rose 0.57% and 0.06%, respectively.

The Wind U.S. Software Services Index fell 3.43%, with MongoDB down more than 7%, Fair Isaac declining over 6%, and AppLovin and Intuit both dropping more than 5%.

Some leading Chinese tech stocks closed higher. Pinduoduo and BYD shares rose 1.91% and 1.72%, respectively, while Tencent Holdings and Meituan gained 0.83% and 0.76%.

Oil prices have shown significant volatility recently, and the U.S. oil sector moved higher. ExxonMobil hit a new high, closing at $165.35 per share, up 2.62%. Marathon Oil and Phillips 66 both rose more than 4%.

Gold and silver prices climbed at the opening on March 25. As of the latest update, spot gold in London was up 1.56%, while COMEX gold futures rose more than 3%.

Thailand’s Foreign Minister confirmed on March 24 that, following consultations with Iran and Oman, a Thai oil tanker that had been anchored in the Persian Gulf for several days safely passed through the Strait of Hormuz and is expected to arrive in Thailand in early April. Against the backdrop of Middle East tensions, the successful passage is seen as a positive signal, indicating that communication mechanisms are functioning effectively.

The Iranian Embassy in Thailand later issued a statement noting that the transit was made possible through close cooperation among Iran, Thailand, and Oman, and emphasized the value it places on friendly relations with Thailand.

On March 11, a Thai-flagged vessel was attacked near the Strait of Hormuz.