Dow falls 100 points on escalating Israel-Iran conflict, weak retail sales
Stocks were lower on Tuesday as investors pored through the latest developments in the Middle East, with the conflict between Israel and Iran raging on. Wall Street also digested weak retail sales data.
The Dow Jones Industrial Average lost 129 points, or 0.3%. The S&P 500 and Nasdaq Composite each shed 0.4%.
On Monday evening, President Donald Trump said in a Truth Social post that “Everyone should immediately evacuate Tehran.” Trump also left the G7 summit in Canada early to deal with the situation in the Middle East, but did so without reaching trade deals with some member nations.
French President Emmanuel Macron said Monday that Trump offered a ceasefire between Iran and Israel. However, Trump said his departure from the G7 had “nothing to do with a Cease Fire. Much bigger than that.”
“We’re all in a bit of a limbo in terms of whether anything substantive came out of the summit and whether Trump was alluding to new information with his post and his early G7 meeting departure,” Deutsche Bank strategist Jim Reid wrote.
Source : CNBC