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Now Wall Street's worried about real war

First it was trade wars, now it's real wars.The Dow opened down 200 points on Wednesday after President Trump ...

Posted: Apr 11, 2018 6:28 PM
Updated: Apr 11, 2018 6:28 PM

First it was trade wars, now it's real wars.

The Dow opened down 200 points on Wednesday after President Trump threatened Russia, tweeting that the country should "get ready," because bombings "are coming" to Syria.

The market later trimmed its losses. The Dow was down about 100 points in the early afternoon, and the S&P 500 was flat.

"Our president is back on the tweet cycle again," said Bruce McCain, chief investment strategist at Key Private Bank. "The big concern, much like the tariff issue, is: Does this broaden into something nastier? Will Russia somehow retaliate and drag us into something more?"

Worries about a conflict in the Middle East rattled the oil market as well. Crude oil prices jumped about 2% and topped $67 per barrel for the first time since late 2014. The jump reflected concerns about Syria and a report from Saudi Arabia that it had intercepted missiles headed toward its capital.

Related: Oil prices jump to highest level since 2014 amid Middle East tensions

Dow futures were already slightly lower before Trump's tweet. The Wall Street Journal reported overnight that the Trump administration is pressing allies to back a military strike on Syria. The White House said on Tuesday that Trump canceled a planned trip to South America to remain in the United States to "oversee the American response to Syria."

Meanwhile, the investigation into the president's personal lawyer Michael Cohen has intensified in recent days. Stocks had rallied Wednesday as trade war fears eased.

"From inflation, to higher rates, to technology worries, to trade wars, the list of worries over the past two months is quite long," said Ryan Detrick, senior market strategist at LPL Financial.

The Dow has tumbled about 9% from all-time highs in late January. Bullish investors hope the sell-off will ease as Wall Street shifts focus to what should be robust corporate earnings in the coming weeks.

" At the end of the day," Detrick said, "the economy continues to support growth and that is what will matter to long-term investors."

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 516486

Reported Deaths: 10299
CountyCasesDeaths
Harrison35042558
DeSoto33463432
Hinds32797643
Jackson24926392
Rankin22593405
Lee16523245
Madison14978283
Jones14191248
Forrest13852260
Lauderdale12326323
Lowndes11387193
Lamar10713140
Pearl River9759244
Lafayette8881143
Hancock7848132
Washington7561169
Oktibbeha7234138
Monroe7091179
Pontotoc7060110
Warren6892178
Panola6807135
Neshoba6753210
Marshall6735142
Bolivar6472151
Union645699
Alcorn5950108
Pike5947157
Lincoln5544136
George511080
Prentiss510185
Tippah497983
Itawamba4903107
Scott479499
Tate4786118
Adams4784125
Leflore4756144
Yazoo458492
Copiah458395
Simpson4577117
Wayne443772
Covington435395
Sunflower4331106
Marion4311112
Coahoma4259110
Leake414491
Newton396182
Tishomingo388894
Grenada3796109
Stone366466
Attala341690
Jasper341566
Chickasaw319167
Winston318892
Clay313978
Clarke301995
Calhoun288950
Holmes273389
Smith270852
Yalobusha245847
Tallahatchie232653
Greene225449
Walthall222166
Lawrence220842
Perry214656
Amite210357
Webster206748
Noxubee188843
Montgomery182757
Carroll175841
Jefferson Davis174643
Tunica163939
Benton153439
Kemper145541
Choctaw137827
Claiborne134839
Humphreys132339
Franklin126630
Quitman107928
Wilkinson106139
Jefferson97334
Sharkey65321
Issaquena1957
Unassigned00

Alabama Coronavirus Cases

Cases: 848779

Reported Deaths: 16185
CountyCasesDeaths
Jefferson1164582005
Mobile744601384
Madison53563738
Shelby38454371
Baldwin38215589
Tuscaloosa36172644
Montgomery34573782
Lee25690264
Calhoun22636520
Morgan22548411
Etowah20075520
Marshall18865318
Houston17795426
St. Clair16968359
Limestone16206220
Cullman16170306
Elmore15952295
Lauderdale15093307
Talladega14267302
DeKalb13095271
Walker12180380
Blount10791193
Autauga10562157
Jackson10221196
Coffee9440192
Colbert9376210
Dale9049192
Tallapoosa7287202
Russell711465
Chilton7098170
Covington6973197
Escambia6969144
Franklin6369108
Chambers5810142
Marion5446132
Dallas5306210
Pike5135109
Clarke486086
Lawrence4852130
Winston4804110
Geneva4656136
Bibb436495
Barbour370880
Butler3445101
Marengo342993
Monroe338566
Randolph338067
Pickens335090
Fayette332285
Henry321266
Cherokee320564
Hale319589
Crenshaw261878
Washington256852
Cleburne255460
Lamar253555
Clay253169
Macon246367
Conecuh193562
Coosa186048
Wilcox178538
Lowndes178468
Bullock152845
Perry141940
Sumter139841
Greene130745
Choctaw94628
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Columbus
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Temperatures return closer to normal for Wednesday with the shower staying south of us for the middle of the week, but rain chances start returning Thursday and could include thunderstorms, some possibly strong by Friday late in the day.
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