Wall Street on Edge as Mideast Upstages Economy: Markets Wrap
- Crude, dollar climb as Israel-Iran conflict stays heated
- Traders await payroll data for clues on Fed’s next move
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US stocks churned as traders weighed the prospect of escalating conflict in the Middle East against positive economic data. Crude and the dollar extended advances.
The S&P 500 fell 0.2% and Nasdaq 100 ended the day marginally lower after choppy trading for much of the morning. The mood on Wall Street soured after puzzling comments from President Joe Biden on if he would support Israel striking Iran’s oil facilities.