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Home / Business and Economy / Nasdaq Snaps Win Streak as Geopolitics Shake Markets

Nasdaq Snaps Win Streak as Geopolitics Shake Markets

21 Apr

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Summary

Major US stock averages closed lower due to escalating US-Iran tensions.
The Nasdaq Composite broke its longest winning streak since 1992.
Wells Fargo forecasts S&P 500 to reach 7,300 by July.

Nasdaq Snaps Win Streak as Geopolitics Shake Markets

US stock futures experienced minimal change on Monday night, following a session where the Nasdaq Composite's 13-day win streak concluded.

All three major stock averages finished Monday's trading session in negative territory. This downturn was attributed to heightened tensions between the United States and Iran over the preceding weekend.

President Donald Trump announced on Sunday that the U.S. had intercepted an Iranian-flagged cargo ship in the Gulf of Oman. This development occurred as Iran indicated its non-participation in new peace talks with the U.S., with a ceasefire due to expire this week.