Wednesday, 9 May 2018

Stocks flat, oil falls after US ends Iran deal

Markets were little changed on Tuesday.

The S&P 500 was flat, the STOXX Europe 600 rose 0.1 percent and the Nikkei 225 rose 0.2 percent.

US stocks managed to recover from early losses after President Donald Trump announced that the US would pull out of a multilateral nuclear deal with Iran but oil fell sharply, West Texas Intermediate crude losing 2.4 percent. Brent fell 1.7 percent.

“It appears that this period of malaise in the market is not going to end until after midterm elections. There is just not enough good news to move the market higher,” said Maris Ogg, president at Tower Bridge Advisors.

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