FTSE 100 LIVE: UK stock market plummets as Iran-US conflict sends oil prices surging | Personal Finance | Finance
On Monday, the S&P 500 fell as much as 1.2%, but finished with a gain of less than 0.1%, at 6,881.62.
The Dow Jones Industrial Average dipped 0.1% to 48,904.78, and the Nasdaq composite rose 0.4% to 22,748.86. Both also recovered from steep early losses.
Derren Nathan, head of equity research at Hargreaves Lansdown, said: “US stocks are set to open down later on, after recouping Monday’s initial losses to end the day flat.
“US energy stocks, many of whom are less directly exposed to the Middle East, had a strong day, but consumer stocks took a dip on concerns that soaring commodity prices could reignite inflation.
“Technology stocks aren’t typically associated with safe haven trading, but the Nasdaq Composite saw the best performance of the main US indices with NVIDIA, Palantir and Microsoft all enjoying gains on the day.”
He added: “These are companies rolling in cash and benefitting from structural growth drivers, meaning demand may be less sensitive to geopolitical unrest. Palantir’s data services to intelligence agencies could be a direct beneficiary of the heightened-threat environment.”
