It was a great start for US stocks but it didn’t even last an hour. The S&P 500 climbed to 6018 but has since been beaten down to 5972. it’s now flirting with yesterday’s low.
Today is monthly options expiration day so that could be driving some of the price action but there is also clearly some safe-haven demand ahead of the weekend with the US threatening to enter the war in Iran. The US dollar is broadly bid and near the highs of the day.
This article was written by Adam Button at www.forexlive.com.