Stock markets in the United States were on the negative territory last Tuesday and investors sweat out over the on-going geopolitical tensions, which drove safe-haven assets like gold in-demand.
The S&P 500 had minimal loss by 0.1 percent, with information technology and financials as the major contributor to the declines. The Nasdaq composite was 0.2 percent lower because of its deteriorating tech stocks for eight consecutive sessions. The Dow Jones industrial average plunged by 10 points after losing more than 100 points. Dow’s major decliner was Apple as it was hit by a countersuit from Qualcomm over a mobile technology licensing fee dispute.
The transports of Dow was also pressured after United Continental shares was dragged down more than 4 percent over the incident when a passenger was violently dragged off an overbooked flight.
U.S. equities reduced its declines when President Donald Trump said to a group of executives that his policy was looking forward to restore Dodd-Frank, which is likely to be omitted and replaced with a different one.
The CBOE Volatility Index (VIX) traded higher by 7 percent at 15.14. However on the previous session, the index had traded about 10 percent higher. The VIX hits a 103-session streak in which it finished under its 200-day average last Monday.
Rex Tillerson, the Secretary of State, said the United States will not tolerate anyone who commits atrocities against humanity. In regards to the statement, the U.S. responded to the chemical attack in Syria by launching 59 Tomahawk missiles on their airbase. Trumps administration is also looking through the elevating tension with North Korea.
A Navy strike group in the U.S. is ought to move near the Korean Peninsula.