U.S. stocks swung sharply Tuesday as uncertainty about the war with Iran increased ahead of a looming deadline set by President Donald Trump to destroy Iranian power plants and bridges. S&P 500 fell as much as 1.2 per cent. The S&P 500 erased all its losses and ended with a modest gain of 0.1 per cent. The Dow Jones Industrial Average dipped 85 points, or 0.2 per cent, and the Nasdaq composite added 0.1 per cent. S&P 500 rose 5.02 points to 6,616.85. The Dow Jones Industrial Average dipped 85.42 points to 46,584.46, and the Nasdaq composite added 21.51 to 22,017.85.
They’re the latest swings to hit financial markets since late February because of deep uncertainty about when the fighting may end. During just the first hour of Tuesday’s trading, the Dow careened between a gain of 74 points and a loss of 425.
“Investors are likely to remain on edge and markets unable to establish trends, probably until there is a clear outcome later this evening: a deal, the U.S./Israeli strikes intensify, or Iran’s retaliation becomes escalatory instead of proportional,” according to Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute.
On Wall Street, companies with big fuel bills fell sharply as high oil prices cranked up the pressure. Norwegian Cruise Line Holdings dropped 3.3 per cent, and United Airlines sank 1.8 per cent.
Companies whose customers may have the least room to absorb the recent jump in gasoline prices also struggled. Dollar Tree slid 4.2 per cent, and Dollar General fell 2.6 per cent.
The average price for a gallon of regular gasoline across the United States has leaped to $4.14, according to AAA. It was below $3 a couple days before the United States and Israel launched attacks to begin the war in late February.
Stocks of health insurers helped support the market after the Centers for Medicare & Medicaid Services said Medicare Advantage payments will likely see a net average increase of 2.48 per cent in 2027. That was well ahead of what some investors expected, according to UBS analysts led by AJ Rice.
UnitedHealth Group jumped 9.4 per cent, and Humana rose 7.9 per cent. Broadcom was another force pushing strongly upward on the market. It rose 6.2 per cent after announcing deals with Google and Anthropic.
In the bond market, Treasury yields eased modestly. The yield on the 10-year Treasury fell to 4.30 per cent from 4.34 per cent late Monday. That’s still well above its 3.97 per cent level from before the war, and the rise has pushed up rates for mortgages and other loans going to U.S. households and businesses, which slows the economy.
They’re the latest swings to hit financial markets since late February because of deep uncertainty about when the fighting may end. During just the first hour of Tuesday’s trading, the Dow careened between a gain of 74 points and a loss of 425.
“Investors are likely to remain on edge and markets unable to establish trends, probably until there is a clear outcome later this evening: a deal, the U.S./Israeli strikes intensify, or Iran’s retaliation becomes escalatory instead of proportional,” according to Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute.
On Wall Street, companies with big fuel bills fell sharply as high oil prices cranked up the pressure. Norwegian Cruise Line Holdings dropped 3.3 per cent, and United Airlines sank 1.8 per cent.
Companies whose customers may have the least room to absorb the recent jump in gasoline prices also struggled. Dollar Tree slid 4.2 per cent, and Dollar General fell 2.6 per cent.
The average price for a gallon of regular gasoline across the United States has leaped to $4.14, according to AAA. It was below $3 a couple days before the United States and Israel launched attacks to begin the war in late February.
Stocks of health insurers helped support the market after the Centers for Medicare & Medicaid Services said Medicare Advantage payments will likely see a net average increase of 2.48 per cent in 2027. That was well ahead of what some investors expected, according to UBS analysts led by AJ Rice.
UnitedHealth Group jumped 9.4 per cent, and Humana rose 7.9 per cent. Broadcom was another force pushing strongly upward on the market. It rose 6.2 per cent after announcing deals with Google and Anthropic.
In the bond market, Treasury yields eased modestly. The yield on the 10-year Treasury fell to 4.30 per cent from 4.34 per cent late Monday. That’s still well above its 3.97 per cent level from before the war, and the rise has pushed up rates for mortgages and other loans going to U.S. households and businesses, which slows the economy.
