Stocks Surrender Gains With Wall Street Dogged By Fall-Out From Russia and Iraq

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The stock market was back on the defensive Thursday with nervous investors bailing out of risky assets on worries about the economic fall-out from Russian sanctions, renewed tensions in Iraq and retaliatory actions from Moscow toward Western imports. Opening gains tied to upbeat data on the U.S. jobs market and positive earnings were compromised early in the session after European Central Bank President Mario Draghi warned of the negative impact geo-political events will have on the fragile European economy. Selling pressure gained momentum after a warning toward Russia by the NATO Secretary General, and the possibility of U.S. airstrikes against ISIS insurgents in Iraq pushed the Dow Jones Industrial Average to its 200-day moving average.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities


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