Stocks saw light losses today as news of trouble in Rohm & Haas’ acquisition of Dow Chemical hurt materials and crude staged a comeback on renewed Middle East tension, MarketWatch reports. The Dow closed down 31.62 points at 8,483.93. The Nasdaq fell 19.92 to close at 1,510.32, and the S&P 500 shed 3.38 to close at 869.42.
Israeli air strikes in the Gaza Strip pushed crude oil futures higher on anticipation of supply issues; the contract for February delivery climbed $2.31 to $40.02. Dow Chemical shares closed down 17.0% after Kuwait scuttled a joint venture with the firm, and the bad news sent shares of Rohm & Haas, which Dow plans to acquire, down 15.7%. DuPont, another materials leader, suffered collateral damage, falling 2.2%.