Major US indices close sharply lower as geopolitical concerns weigh

The major US stock indices are closing sharply lower as geopolitical concerns weigh on the market sentiment.

Iran’s missile attack on Israel seemed to be a choreographed theatrical performance but was real and that often leads to a knee-jerk reaction to the downside.

Apple expectations for iPhone sales also were a drag. Apple shares are closing down -2.91%. Nvidia shares fell by -3.66%. Microsoft fell by the -2.33%.

It wasn’t all negative Google shares rose 0.69% and rose by 0.70%.

Another risk was the port strikes which could impact supply and prices as well.

The final numbers are showing:

• Dow industrial average fell -173.18 points or -0.41% at 42156.97
• S&P index fell -53.73 points or -0.93% at 5708.75.
• NASDAQ index-278.81 or -1.53% at 17910.96

The small cap Russell 2000 fell -32.93 points or -1.48% at 2197.03

looking at other markets, the US yields moved lower but are off their lowest level:

• 2- year 3.610%, -4.0 basis points
• 5 year 3.515%, -6.2 basis points
• 10 year yield 3.739%, -6.5 basis points
• 30 year yield 4.077%, -5.5 basis points

in the forex market, the CAD is ending the day as a strongest of the major currencies. THe NZD is the weakest. The USD is higher but with modest client rose JPY and CAD.

This article was written by Greg Michalowski at www.forexlive.com.