Wall Street finishes higher after early Middle East selloff
US stocks rose Monday as investors bought tech and defense shares following an early selloff. Gains in Nvidia helped offset losses in travel and airlines.
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Major stock indices in the United States staged a resilient recovery on Monday, rebounding from an early-session selloff triggered by escalating geopolitical tensions in the Middle East. Markets initially retreated following reports of military strikes by the U.S. and Israel against targets in Iran, an event that killed Tehran's Supreme Leader and sent global exchanges into the red. Despite the initial shock, bargain-hunting investors moved in to buy on dips, signaling a belief that the economic disruptions from the conflict might remain contained.
"Market participants think this is all just temporary and that the problems in the oil patch will disappear," said Bill Smead, founder and chairman of Smead Capital Management.
