Huili Securities: With the rise in oil prices, there is further downside potential for the S&P 500 index.

Paul Chew, head of research at Hui Li Securities, commented that with oil prices still rising, there is further downside potential for the S&P 500 index. The head of the research department pointed out that since the start of the Middle East conflict, the S&P 500 index has fallen by 7.9% to its lowest point. He said that, in comparison, during the Kuwait War and the Russia-Ukraine conflict, the index fell by 17% to its lowest point. Chew added that, therefore, "there is further downside potential, especially with oil prices still climbing." FactSet data shows that eMini S&P 500 index futures are down 0.1%.