S&P 500 Slips 0.19% as Oil Climbs to $83 on US-Iran Strikes
Updated
Updated · CNBC · Jul 19
S&P 500 Slips 0.19% as Oil Climbs to $83 on US-Iran Strikes
3 articles · Updated · CNBC · Jul 19
Summary
7,443.28 marked the S&P 500 close, down 0.19%, while the Dow fell 307.16 points and the Nasdaq lost 0.05% as higher oil and renewed US-Iran fighting weighed on risk appetite.
$83.23 US crude and $89.22 Brent settled higher after a ninth straight day of US strikes on Iran and Trump's warning that Tehran would pay "many times over" for three US service members' deaths.
London trading briefly steadied after Iran's foreign ministry said intermediaries were still exchanging messages, reinforcing a market view that diplomacy could still cap any broader US military escalation.
Apple's drop of more than 2% added pressure on the Dow, though chip stocks such as Micron, Teradyne and AMD rebounded after last week's selloff left the semiconductor ETF down for a third week in four.