17.06.202518:27:38UTC+00Wall Street Falls Amid Israel-Iran Tensions, Economic Woes

On Tuesday, U.S. stocks experienced a downturn due to escalating tensions in the Middle East and lackluster economic indicators, which negatively affected investor confidence. The S&P 500 index declined by 0.8%, the Dow Jones Industrial Average decreased by 300 points, and the Nasdaq Composite fell by 0.9%. These declines were triggered by mounting concerns over the possibility of direct U.S. involvement in the ongoing conflict between Israel and Iran. President Trump's escalated rhetoric heightened these fears, as he demanded Iran's "unconditional surrender" and hinted at the potential for a strike against Supreme Leader Khamenei in various posts on the Truth Social platform. Furthermore, the economy showed signs of strain with disappointing retail sales figures in the U.S., which fell by 0.9% in May, suggesting that consumer spending is slowing, likely influenced by the impact of tariffs.

In the corporate sector, T-Mobile saw its shares fall by 4% following SoftBank's decision to sell part of its stake in the company to support investments in artificial intelligence. On the other hand, shares of ExxonMobil and Chevron rose by more than 2%, benefiting from an over 3% increase in oil prices. Verve Therapeutics experienced a notable surge in its stock price, jumping 79% to $11.30, upon the announcement that Eli Lilly intends to acquire the company for $10.50 per share.