New York Report: World affairs rock markets

US stocks slipped yesterday as investors remained cautious about instability in Ukraine and Gaza, though the three major indexes ended well off their lows, a sign that some appetite for riskier assets remained.

The S&P 500 fell as much as 0.6 per cent, though it closed right above its 14-day moving average, suggesting buyers were using weakness to come back into the market. Nine of the 10 primary S&P 500 sector indexes fell.

Violence escalated in the Gaza Strip despite growing international calls for a cease-fire. The Palestinian death toll rose above 500 while Israel’s losses also mounted.

The Dow Jones industrial average fell 48.45 points or 0.28 per cent, to end at 17,051.73. The S&P 500 declined 4.59 points or 0.23 per cent, to finish at 1,973.63. The Nasdaq Composite dropped 7.44 points or 0.17 per cent, to close at 4,424.70.