Thursday, 12 April 2018

Stocks fall, oil rises as US considers military strike in Mideast

Markets mostly fell on Wednesday.

The S&P 500 fell 0.6 percent, the STOXX Europe 600 fell 0.6 percent and the Nikkei 225 fell 0.5 percent.

Tension in the Middle East weighed down stocks as the US government looks for international support for a possible military strike against Syrian President Bashar al-Assad for an alleged chemical-weapons attack.

However, oil rose. West Texas Intermediate crude rose 2 percent while Brent rose 1.4 percent.

“Volatility does not seem to be slowing down—in either direction—regardless of solid economic numbers,” said Mike Loewengart, vice president of investment strategy at E*Trade. “There are much bigger issues at stake—namely escalating tensions with Russia and China.”

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