US close: Stocks slip amid geopolitical worries, trade‑deficit concerns
7th Jul 2026 23:40
(Sharecast News) - Major indices closed lower on Tuesday as investors weighed rising tensions in the Middle East and a fresh jump in oil prices, as well as key trade‑deficit figures.
At the close, the Dow Jones Industrial Average was down 0.25% at 52,925.15, while the S&P 500 shed 0.45% to 7,503.85 and the Nasdaq Composite saw out the session 1.16% softer at 25,818.69.
The Dow closed 130.76 points lower on Tuesday, taking a bit out of solid gains recorded in the previous session as the blue chip broke above the 53,000 barrier for the first time.
Middle East tensions were in focus throughout the session after the US launched what it described as a "series of powerful strikes" against Iran on Tuesday evening, in retaliation for attacks on three commercial vessels travelling through the Strait of Hormuz, according to US Central Command. Earlier in the day, the Treasury revoked a licence that had allowed Iran to sell oil globally following the incidents in the strait.
West Texas Intermediate crude futures were last up more than 2%, pushing above $72 a barrel, adding to the cautious tone across markets.
Tech stocks also wrapped up the session in the red on Tuesday, with Micron trading 4.71% lower, while fellow chipmakers Marvell Technology and AMD were also firmly lower, weighing on the tech heavy Nasdaq.
Tuesday's moves followed a sharp tech‑led sell‑off in Asia‑Pacific markets, where South Korea's Kospi dropped nearly 5% after a 7% slide in Samsung as concerns over spending and demand overshadowed a strong jump in the company's Q2 operating profits.
On the macro front, the US trade deficit widened sharply in May, according to the Census Bureau and Bureau of Economic Analysis, as exports fell and imports picked up. The goods and services deficit increased to $77.6bn, up from a revised $54.6bn in April, as exports dropped 3.2% on the month to $317.7bn, while imports rose 3.3% to $395.3bn. The goods deficit widened by $23.6bn to $106.5bn, while the services surplus edged up to $28.9bn. A three‑month moving average showed the deficit rising to $62.9bn, with average exports at $321.5bn and average imports at $384.5bn. Year‑to‑date, however, the overall deficit remained 40.6% lower than the same period in 2025, as exports increased 11.7% and imports fell 2.1%.
US Treasury yields ticked higher in early action as investors digested the trade‑deficit data, as well as minutes from the latest FOMC meeting on Wednesday,with the ten‑year yield rising just over eight basis points to 4.556%, while the two‑year note also added more than eight basis points to 4.197%.
No major corporate earnings were slated for release on Tuesday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Dow Chemical Co. (DOW) $28.64 4.79%
Chevron Corp. (CVX) $174.01 3.52%
Johnson & Johnson (JNJ) $267.24 3.05%
Unitedhealth Group Inc. (UNH) $428.19 2.44%
Salesforce.Com Inc. (CRM) $169.52 2.34%
Procter & Gamble Co. (PG) $152.75 2.30%
International Business Machines Corporation (CDI) (IBM) $306.13 2.21%
Merck & Co. Inc. (MRK) $128.86 1.64%
Travelers Company Inc. (TRV) $343.73 1.34%
Coca-Cola Co. (KO) $84.05 1.31%
Dow Jones - Fallers
Intel Corp. (INTC) $110.39 -11.43%
Caterpillar Inc. (CAT) $940.12 -3.07%
American Express Co. (AXP) $349.58 -1.81%
Home Depot Inc. (HD) $345.21 -1.55%
Cisco Systems Inc. (CSCO) $111.79 -1.51%
Visa Inc. (V) $352.20 -1.41%
Boeing Co. (BA) $231.68 -1.22%
Goldman Sachs Group Inc. (GS) $1,042.98 -1.17%
3M Co. (MMM) $158.01 -0.72%
Amgen Inc. (AMGN) $368.10 -0.35%
S&P 500 - Risers
Nektar Therapeutics (NKTR) $74.90 7.40%
DENTSPLY Sirona Inc. (XRAY) $12.19 6.56%
Cognizant Technology Solutions Corp. (CTSH) $43.94 6.29%
Occidental Petroleum Corp. (OXY) $51.68 5.88%
NetApp Inc. (NTAP) $165.78 5.09%
Devon Energy Corp. (DVN) $42.41 5.08%
Diamondback Energy Inc. (FANG) $180.56 5.04%
Apache Corp. (APA) $34.00 4.81%
ConocoPhillips (COP) $108.44 4.69%
VeriSign Inc. (VRSN) $266.78 4.58%
S&P 500 - Fallers
KLA-Tencor Corp. (KLAC) $216.47 -11.52%
Intel Corp. (INTC) $110.39 -11.43%
Applied Materials Inc. (AMAT) $554.50 -9.94%
Ipg Photonics Corp. (IPGP) $96.60 -9.88%
Lam Research Corp. (LRCX) $326.13 -9.40%
Western Digital Corp. (WDC) $532.10 -8.86%
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Micron Technology Inc. (MU) $938.38 -6.43%
American Airlines Group (AAL) $17.20 -6.06%
Bath & Body Works, Inc. (BBWI) $20.62 -5.93%
Nasdaq 100 - Risers
Workday, Inc. (WDAY) $143.65 8.53%
DENTSPLY Sirona Inc. (XRAY) $12.19 6.56%
Cognizant Technology Solutions Corp. (CTSH) $43.94 6.29%
Regeneron Pharmaceuticals Inc. (REGN) $676.23 4.45%
Meta Platforms Inc. (META) $615.58 4.13%
Gilead Sciences Inc. (GILD) $136.36 3.85%
Autodesk Inc. (ADSK) $212.38 3.81%
Verisk Analytics Inc. (VRSK) $192.25 3.80%
Biomarin Pharmaceutical Inc. (BMRN) $60.35 3.68%
T-Mobile Us, Inc. (TMUS) $184.73 3.47%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
KLA-Tencor Corp. (KLAC) $216.47 -11.52%
Intel Corp. (INTC) $110.39 -11.43%
Applied Materials Inc. (AMAT) $554.50 -9.94%
Lam Research Corp. (LRCX) $326.13 -9.40%
Western Digital Corp. (WDC) $532.10 -8.86%
Micron Technology Inc. (MU) $938.38 -6.43%
American Airlines Group (AAL) $17.20 -6.06%
Seagate Technology Plc (STX) $827.64 -5.17%
Liberty Global plc Series A (LBTYA) $10.75 -4.66%