From Nasdaq: 2024-04-12 12:52:04

Stock indexes, including the S&P 500, Dow Jones, and Nasdaq, are down today due to heightened geopolitical tensions and risk aversion. Gold prices have reached a record high, while crude prices have rallied over 2%, reflecting safe-haven demand. Iran is expected to retaliate against Israel, impacting market sentiment.

Weak Chinese trade news has also affected global growth prospects, with Mar exports falling by 7.5% y/y. Consumer sentiment in the US has declined, while inflation expectations have unexpectedly risen. Bond yields are lower, supporting stocks, and the Fed is expected to make two rate cuts this year.

US stock movers include Zoetis down 7%, chip makers pressured by Chinese orders, and cruise line operators falling on higher crude prices. Globe Life is up 14% after addressing a short-seller report, Newmont up 5% on record gold prices, and energy producers climbing with crude prices. Various companies like State Street and Progressive Corp are showing positive movement after Q1 earnings reports.



Read more at Nasdaq: Stocks Fall on Heightened Geopolitical Risks in the Middle East