Wall street: US stocks closed lower on Wednesday as investors pulled back from equities amid heightened geopolitical tensions and rising commodity prices.
According to Emirates News Agency, the benchmark S and P 500 index shed 54.11 points, or 0.74%, to finish at 7,555.67. The tech-heavy Nasdaq Composite Index declined by 230.97 points, or 0.85%, to close at 26,862.93, while the Dow Jones Industrial Average dropped 581.84 points, or 1.13%, to end the trading session at 51,076.85.
Investors showed caution as geopolitical events created uncertainty in the market. The increase in commodity prices added to the pressure on equities, leading to a broad market sell-off. The decline in major indexes reflected investor sentiment veering towards risk aversion under the current market conditions.