US-Iran Clash Troubles Wall Street

The Dow, S&P, and Nasdaq all take a dip
By Newser Editors and Wire Services
Posted Jan 7, 2020 3:05 PM CST
Stocks Drop Amid US-Iran Clash
In this Jan. 2, 2020, file photo James Riley monitors stock prices at the New York Stock Exchange. Global stocks stabilized Tuesday, Jan. 7, and the price of oil edged off three-month highs, though investors remained cautious over rising tensions between the US and Iran.   (AP Photo/Mark Lennihan, File)

(Newser) – Stocks are closing lower on Wall Street as investors wait for the next step in the increasingly tense US-Iran confrontation, the AP reports. Oil prices gave up some of their recent gains after a US drone strike killed Iran's top general on Friday. Banks and makers of consumer products took some of the bigger losses. JPMorgan Chase fell 1.7%. The S&P 500 fell 9 points, or 0.3%, to 3,237. The Dow Jones Industrial Average fell 119 points, or 0.4%, to 28,583. The Nasdaq slipped 2 points, less than 0.1%, to 9,068. Bond prices fell. The yield on the 10-year Treasury note rose to 1.83%. (Read more stock market stories.)

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