Worries about the US role in Syria drag Wall Street into red

Pervasive uncertainty about the US role in the international conflicts dragged Wall Street into the red and kept it there until the closing bell.

Markets are in consolidation over the last few sessions because of geopolitical uncertainty, particularly on worries over how President Donald Trump will handle increasing tensions on the Korean Peninsula.

Earlier Tuesday, Trump wrote on Twitter, that North Korea is looking for trouble and if China decides to help her, that would be great. Otherwise, the US will solve the problem itself.

The yen gained on Tuesday as increasing risks in the Korean Peninsula pulled investors toward safe-haven assets. The U.S. dollar nearly touched a five-month low against the Japanese yen earlier Tuesday, trading down more than 1%.

Financials were among the sectors in the red on Tuesday as the big banks failed to get a kick from Trump's pledge to eliminate industry regulation. Trump said Tuesday he wants to eliminate or revamp the Dodd-Frank banking reform law, which was enacted after the 2008 financial crisis. The regulations require financial institutions to prove they are fiscally sound and can weather future shocks to global markets.

TheStreet

Jr_Trader_Ivan_Ivanov

Read more:

• Risk off after the escalation in the Middle East, markets are recovering in a period of calm
• The macroeconomic events for today’s trading calendar
• The US government has confirmed the attacks, Trump is calling an emergency staff meeting
• Has the war between Iran and the US started?
• US markets remain under pressure, traders await Iran’s response