Highlights
Major stock indexes gave back early gains to end slightly lower Monday amid renewed worries over the US-Iran war. The Dow Jones industrial average lost 0.6 percent while the S&P 500 slipped 0.2 percent and the Nasdaq was down 0.1 percent. Bond yields, the dollar and oil prices all rose after President Trump threatened reprisals against Iran for the killing of US soldiers.
Earlier, oil prices and bond yields were lower after an Iranian official reportedly said the two sides were in contact but Trump’s remarks suggested the US was prepared to step up its attacks on Iran, which would be port expected to engender more fighting and delay any resumption of energy flows from the area. Reports that the Houthis are threatening to Saudi ports through the Red Sea -- on. top of the blockade of the Strait of Hormuz -- added to concern about oil prices and widening of the conflict.
Among the day’s worst performers were financials, paper/packaging, homebuilders, staples retailers and pharma. Holding up best were energy, software, airlines, health & personal care, and discount retailers.