Wall Street tumbles, geopolitical risks weigh ahead of revenues

Wall Street tumbles, geopolitical risks weigh ahead of revenues

On Wednesday, American shares slumped, hitting the day's minimums, with concern over geopolitical risks applying pressure on market sentiment as market participants readied for the start of American corporate profits reports.

Concerns over ascending tensions between North Korea, Syria, Russia and the United States drove traders into gold as well as other safe-haven assets. They also backed the CBOE Volatility index, Wall Street's fear indicator, which concluded above 15 for the first time since Election Day.

On Tuesday, US Secretary of State Rex Tillerson delivered a message from world powers to Russia, denouncing Russian support for Bashar al-Assad.

Additionally, contributing to the dour mood, North Korea state media officially warned of a nuclear attack on America if provoked because a US Navy strike group headed for the western Pacific.

Shares, soared steeply after the November 8 election on optimism that newly elected Donald Trump will drive the US economy, have been going down since the beginning of March. For instance, on Tuesday, the S&P 500 stood below its 50-day moving average, though managed to close above the major technical level.

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