U.S. Shares Edge Lower Amid Heightened Geopolitical Tensions
U.S. stocks declined on Wednesday with all three share benchmarks trading lower, weighed down by caution taken by investors amidst persistent geopolitical risks.
The S&P 500 index maintained its recent downward bias, losing nearly 0.5 percent to trade as low as 2342.00. Eight of the 11 main sectors were in negative territory, led by losses in materials, industrials and financials which dropped about 1 percent each.
Geopolitical tensions have heightened after President Donald Trump pressed China to act on the threats coming out of North Korea. The U.S. President stated that his country would take unilateral action if Beijing doesn’t act. Additionally, the White House has accused Russia of trying to cover up the suspected chemical weapon attack in Syria, calling Russia to abandon its support for Syrian President Bashar al-Assad.
Sell Stop at 2340.00, Take profit 2335.00, Stop loss at 2342.00