NEW YORK, Jan 7 — Wall Street stocks dipped early today amid volatility over escalating tensions between Washington and Tehran following the US killing of Qasem Soleimani.

A mass funeral procession in Iran for Soleimani led to a stampede that left some 40 people dead and many injured as Iranian lawmakers voted to designate all US forces around the world "terrorists” over Soleimani’s killing.

Stocks have been choppy since the killing, slumping on Friday and early yesterday before pushing into positive territory late in the session.

Analysts have said market declines following unexpected geopolitical developments usually do not persist once the initial shock wears off.

About 30 minutes into trading, the Dow Jones Industrial Average stood at 28,616.23, down 0.3 per cent.

The broad-based S&P 500 also shed 0.3 per cent to 3,237.13, while the tech-rich Nasdaq Composite Index lost 0.1 per cent at 9,063.46.

The Commerce Department reported that the US trade deficit hit its lowest level in three years in November due to a drop in imports of crude oil, computers and industrial supplies.

Among individual companies, Goldman Sachs added 1.3 per cent as it disclosed additional details about its financial structure ahead of an investor day later this month.

The prestigious bank is focused on boosting its valuation after a lengthy period of sideways trading. — AFP