Markets Stabilize Following Missile Strike on US Bases
Financial markets stabilized in morning trading Wednesday after overnight declines following Iran’s missile attack on U.S. bases in Iraq.
Investors grew more optimistic as both sides appeared to tone down their rhetoric. Banks and technology companies led the gains.
Oil prices fell as traders became less worried about supply disruptions from the Middle East. That sent energy companies broadly lower.
Phillips 66 gave up 3.6%. Walgreens slumped after delivering a weak earnings report and Boeing fell following a plane crash in Iran.
Bond prices rose, sending the yield on the benchmark 10-year Treasury note down slightly.