Rising oil prices intensify market unease, and the S&P 500 index still has room for decline

According to Jinshi News, Paul Chew from Phillip Securities Research stated that the S&P 500 index still has room for further decline amid rising oil prices.

Since the outbreak of the Middle East conflict, the index has fallen by 7.9% from its peak. He pointed out that during the Gulf War and the Russia-Ukraine War, the index fell by 17% respectively. Chew added, "The market still has room for further downside, especially with oil prices continuing to rise."