Newscasts - Indexes end lower as Israel-Iran fighting raises investor anxiety

SunRun

17/06/2025 23:48

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Source: 'Reuters - Business videos'

Description: U.S. stocks finished with losses on Tuesday (June 17) as the Israel-Iran conflict raged on for a fifth day and kept investor anxiety high, with the U.S. military moving fighter jets to the Middle East. Lisa Bernhard has more.

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Video Transcript:

US stocks closed lower on Tuesday, with the Dow dropping 0.7%, the S&P 500 losing more than 0.8%, and the NASDAQ shedding 0.9%. The Israel-Iran conflict raged on for a fifth day with the US military moving fighter jets to the Middle East and President Donald Trump calling for Iran's "unconditional surrender." Besides the conflict, investors are closely watching for any new information on Trump's tariffs, his tax cut bill, and US interest rates. The Federal Reserve is expected to leave rates unchanged at the conclusion of its two-day policy meeting on Wednesday despite ongoing pressure from Trump to lower them. Robert Conzo is CEO of the Wealth Alliance.

I think Jerome Powell wants to be independent from Trump. He wants to show, I'm not going to be strong armed by the government. I'm going to hold this until we're ready to drop it down. I'm not really sure why the Fed doesn't do a signaling cut of 25 basis points just to show that they're willing to do it. The rest of the world was cutting. We're in a great shape. I'm not sure why he doesn't do that, but he's not, and there's no indication that in this particular round, he's going to.

Stocks on the move included solar companies which fell after Senate Republicans late Monday unveiled proposed changes to Trump's tax cut bill, including a phase out of solar, wind, and energy tax credits by 2028. Enphase Energy tumbled 24% and Sunrun plunged 40%. Also, Eli Lilly shares dipped 2% after the company agreed to acquire Verve Therapeutics for up to $1.3 billion. Shares of Verve surged more than 80%. And shares of JetBlue fell almost 8% after its CEO told employees the airline will wind down underperforming routes and reassess the size and scope of its leadership team. The carrier also said it was unlikely it would break even this year, according to an internal memo seen by Reuters.