US Stocks Drop

Trading Economics-


US equities fell on Tuesday as investors closely monitored escalating tensions in the Middle East, with the Israel-Iran conflict entering its fifth day. The S&P 500 lost 0.8%, the Dow dropped 299 points and the Nasdaq fell 0.9%,At the same time, disappointing US retail sales, which dropped 0.9% in May, signaled a slowing consumer that tariffs may be having a growing impact in the economy. In corporate news, JetBlue Airways sank 7.9% after its CEO warned that weak travel demand makes break-even margins unlikely this year. United, Delta, and American Airlines also slipped 6.2%, 4.3%, and 3.1%, respectively. Conversely, ExxonMobil and Chevron gained 1.3% and 3.2%, respectively, following a 4% surge in oil prices.