The S&P 500 Index is down -0.28%, the Dow Jones is down -0.18%, and the Nasdaq 100 has fallen -0.33% as of today. Significant market declines follow President Trump’s statement deeming the chances of a ceasefire between Israel and Iran as slim, amidst ongoing hostilities which have now entered their fifth day.
Economic data from the U.S. showed May retail sales fell -0.9%, worse than the -0.6% expectation, while the May import price index rose +0.2%, exceeding the +0.1% forecast. The June NAHB housing market index plummeted to 32, a two-and-a-half-year low, down from expectations of 36.
Globally, the Euro Stoxx 50 has fallen -0.88%, while China’s Shanghai Composite dipped -0.04%. Japan’s Nikkei 225 increased by +0.59%. In the energy market, crude oil prices rose by +2%. Market sentiments remain shaky as investors look ahead to upcoming Fed meetings.
