NEW YORK (Pakistan Point News / Sputnik - 08th January, 2020) Shares on Wall Street fell on Tuesday as investors and traders struggled to find new optimism to restart the market's rally from last year amid the US-Iran tensions.
The top US stocks barometer, the S&P500, settled down 0.3 percent at 3,237 after opening flat and seesawing between negative and positive territory through the day.
The S&P500, which measures the value of the 500 largest US corporations by market capitalization, declined by 0.3 percent to 3,237.18
The technology-heavy Nasdaq Composite Index settled down 0.03 percent at 9,067, after opening at 9,076 versus the previous session's 9,072 close.
The Dow Jones Industrial Average closed down 0.4 percent at 28,641.
"After a brief focus on the US/Iran flare, risk sentiment has started to recover," The financial services company TD Securities said in a market note. "That reflects the hopes that policymakers will avoid a military conflict. The situation remains fluid, of course, and like most geopolitical flareups, the impact serves to disrupt markets in the context of positioning and valuation."
While neither the United States nor Iran appeared to escalate actions on Tuesday, many markets remained on the edge, with oil prices falling on lower risk pricing by traders, although gold rose again on safe haven buying.
