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.
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