Stocks were lower following the S&P 500 Index’s second-biggest selloff of the year, as investors digested the political upheaval in the U.S. and the latest terrorist attack in Europe.
U.S. shares fell slightly. Stocks in Europe extended their declines after a terrorist attack in Barcelona added to unease about U.S. policy paralysis and lingering tensions over North Korea.
“The terror attacks in the U.S. and Spain just add to all the other geopolitical mess,” Simon Quijano-Evans, a strategist at London-based Legal & General Investment Management Ltd., said in a note to clients. “At some stage that is likely to culminate into a more extreme market reaction.”
Still, some investors said the selloff is temporary. Neither the terrorist attack in Spain nor political turmoil in the U.S. should create a trend.
Here are the main moves in markets:
Stocks
The S&P 500 was down 0.2 percent as of 10:10 a.m. in New York. The Dow Jones Industrial Average dropped 0.2 percent and the Nasdaq Composite Index slid 0.1 percent.
The Stoxx Europe 600 Index sank 0.8 percent.
Germany’s DAX Index decreased 0.4 percent.
The U.K.’s FTSE 100 Index tumbled 0.9 percent.
Currencies
The Bloomberg Dollar Spot Index decreased 0.2 percent.
The euro advanced 0.2 percent to $1.1743.
The British pound gained less than 0.1 percent to $1.2873.
The Japanese yen increased 0.7 percent to 108.78 per dollar, the strongest in almost four months.
Commodities
Gold climbed 0.7 percent to $1,269.56 an ounce.
West Texas Intermediate crude fell 0.2 percent to $47.01 a barrel.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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