News Column

World affairs rock markets

July 22, 2014

US stocks slipped yesterday as investors remained cautious about instability in Ukraine and Gaza, though the three major indexes ended well off their lows, a sign that some appetite for riskier assets remained.

The S&P 500 fell as much as 0.6 per cent, though it closed right above its 14-day moving average, suggesting buyers were using weakness to come back into the market. Nine of the 10 primary S&P 500 sector indexes fell.

Violence escalated in the Gaza Strip despite growing international calls for a cease-fire. The Palestinian death toll rose above 500 while Israel's losses also mounted.

The Dow Jones industrial average fell 48.45 points or 0.28 per cent, to end at 17,051.73. The S&P 500 declined 4.59 points or 0.23 per cent, to finish at 1,973.63. The Nasdaq Composite dropped 7.44 points or 0.17 per cent, to close at 4,424.70.

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Source: City A.M. (UK)

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