U.S. stocks ended down on Tuesday, but well off the day’s lows, as worries about geopolitical risks dampened investor sentiment. Alicia Powell reports.
Wall Street finished the day in the red on mounting geopolitical tensions.
The White House said U.S. President Donald Trump is open to authorizing additional strikes on Syria if its government uses chemical weapons again or deploys barrel bombs.
Adding to the dour mood, North Korea state media warned of a nuclear attack on the United States if a U.S. Navy strike group moved toward the western Pacific.
Gold prices jumped to their highest since November on the news.
But Gina Bolvin, president of Bolvin Wealth Management Group, says there is more to the story.
(SOUNDBITE) GINA BOLVIN, PRESIDENT OF BOLVIN WEALTH MANAGEMENT GROUP INC., (ENGLISH) SAYING:
“Let’s take a look at where we’ve been. We’ve had eight years of an expansion. And, I think, it’s a very bullish sentiment that the market has not corrected. After we didn’t get the Obamacare reform, after we’re seeing tax reform might be delayed, and after we’re sending Tomahawk missiles into Syria. I think, the market has shrugged off a lot of news. Let’s face it, even bull markets have corrections, and I wouldn’t be surprised if we see one.”
During the day, the markets reacted positively to President Trump reaffirming that his administration is working on reducing regulations.
On the trading floor…
Shares of United Continental dropped after a worldwide backlash over a passenger who was dragged off one of its U.S. flights.
RetailMeNot stock jumped after it said ‘yes’ to a takeover proposal by a marketing services company…