NEW YORK, Jan 6 — Wall Street stocks dropped early today amid escalating tensions between Washington and Tehran after the United States last week killed an Iranian military commander.
Iran has threatened to avenge the killing of Qasem Soleimani, while US President Donald Trump vowed more “major retaliation” if Tehran hits back, including strikes on Iranian cultural sites.
About 20 minutes into trading, the Dow Jones Industrial Average stood at 28,514.76, down 0.4 per cent.
The broad-based S&P 500 dipped 0.3 per cent to 3,226.39, while the tech-rich Nasdaq Composite Index shed 0.3 per cent to 8,992.15.
Worries about fallout from the Soleimani killing have shaken markets out of a complacent period in late December that saw Wall Street repeatedly rise to new records amid improving US-China trade dynamics and accommodative monetary policy.
Among individual companies, Boeing fell 1.0 per cent on lingering worries about the 737 MAX following a Wall Street Journal report that said US regulators were considering requiring simulator training on the aircraft before allowing it to fly again.
SmileDirectClub, which sells teeth straightening medical devices, surged nearly 10 per cent as it sealed a deal to sell a suite of products exclusively at Walmart. Walmart slipped 0.5 per cent. — AFP
