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US equity markets failed to find their footing on Wednesday with haven assets beckoning investors after US secretary of state Rex Tillerson said relations with Russia are at a “low point“, and after a late-in-the-trading-day interview in which, US President Donald Trump expressed his view that the greenback may be “getting too strong.”
The S&P 500 ended the day down 0.38 per cent at 2,344.9, with the Dow Jones shedding 0.29 per cent to wind up at 20,591. The Nasdaq fell 0.52 per cent to hit 5,836.
The losses were led by the industrials and materials sectors, while utilities and telecoms managed to beat the downward pull and end the day in the black.
Elsewhere in markets, US Treasuries were jolted higher by Mr Trump’s comment on the dollar – as well as his view that Federal Reserve chair Janet Yellen is “not toast” when her term ends in 2018. The yield on the 10-year note, which moves inversely to price, was down 3.4 basis points to 2.26 per cent. Meanwhile, the US dollar did not fare so favourably, skidding after Mr Trump appeared to take aim at the climbing buck in his interview with the Wall Street Journal.