US-Iran Tensions Spark Global Market Volatility

The US-Iran tensions sparked a risk-off stance in global markets on Tuesday. The Nasdaq Composite fell 1.03% to 26,100, while the Dow Jones Industrial Average dropped 0.79% to 52,767 and the S&P 500 slipped 0.70% to 7,633.

The tech sector was hit particularly hard due to recent financial results from cybersecurity firms Palo Alto Networks and CrowdStrike Holdings. Traders at Goldman Sachs Group noted increased investor nervousness and cautious risk allocations as global markets grappled with the escalating tensions in the Middle East.

In contrast, value stocks held up relatively better today, as shown by the Invesco S&P 500 Low Volatility ETF declining 0.2% versus the Invesco S&P 500 High Beta ETF's drop of 2.1%. Moderna continued its impressive run, jumping 10%, following analyst upgrades after the historic announcement of a potential cancer vaccine two weeks ago.