US Stock Market Today: Dow Jones Slips 100 Points, S&P 500 Down 0.4% As Israel-Iran Tensions Simmer
The S&P 500 dropped 0.35% but remained above 6,000 points while the tech-heavy Nasdaq Composite opened 0.4% lower.
US stocks traded lower on Tuesday as tensions between Iran and Israel remained high and the G7 Summit in Canada failed to deliver any positive direction on easing trade rifts. Investors also digested weak US retail sales data.
The 30-stock Dow Jones Industrial Average lost 150 points or 0.4% at market open. The S&P 500 dropped 0.35% but remained above 6,000 points while the tech-heavy Nasdaq Composite opened 0.4% lower.
All but one of the 11 sectoral indices on the S&P 500 traded below their previous level, with the sharpest decline in healthcare and telecom. Energy stocks were in the green.
Israel and the US are ratcheting up pressure on Iran to curb its nuclear and ballistic missile programme, fueling fears that Washington may be preparing for a more direct intervention. President Donald Trump said in a Truth Social post that “Everyone should immediately evacuate Tehran.”
Trump also left the G7 summit early to deal with the situation in the Middle East but did so without reaching trade deals with some member nations.
US retail sales fell for a second straight month, suggesting anxiety over tariffs and their finances prompted consumers to pull back after an early-year spending rush, Bloomberg News reported.
The yield on the 10-year US Treasury bond was flat at 4.43%.
The dollar strengthened against major currencies. The dollar index gained 0.2% to 98.2. The pound fell 0.25%, while the yen dropped 0.1%. The euro was flat against the greenback.
Spot gold prices gained 0.2% to $3,391 an ounce.
International benchmark Brent oil was up 3% to above $75 per barrel amid the situation in the Middle East.
