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Nasdaq closes down as investors stay cautious on geopolitics
Yahoo Finance· 2026-03-24 20:19
Market Overview - Wall Street opened lower, with the Dow Jones down 0.8%, the S&P 500 falling 0.7%, and the Nasdaq slipping 0.9% in early trade [1] - Losses on the S&P were led by consumer and tech names, with Estée Lauder dropping 7.4%, Fair Isaac down 5.8%, and CrowdStrike off 5.0% [1] - Retail and consumer stocks were also weaker, with Dollar General down 4.5% and Best Buy off 3.8% [2] Sector Performance - On the Dow, Salesforce was down 4%, leading the declines, followed by IBM, Home Depot, Boeing, and Microsoft [3] - There were seven names in green, with Verizon Communications and Chevron both up more than 1% [4] Market Sentiment - US futures were pointing lower ahead of Tuesday's open, as early optimism over a potential Iran ceasefire faded following a denial from Tehran [5] - Markets swung sharply at the start of the week after President Trump's comments about US-Iran conversations, but Iran's response contradicted this [6] Oil and Bond Markets - WTI crude dropped back below $90 a barrel after Trump's news but was back up to $91.60 a barrel [8] - The benchmark US 2-year treasury yield posted a high above 4.00% before dropping to 3.79% and rebounding to near 3.90% [9] - The benchmark 10-year yield saw a similar pattern, rising as high as 4.44% before falling to 4.30% and then rebounding to 4.388% [9]