Dow drops 120 points as stock market hits fresh intraday low following Trump’s exit of Iran nuclear pact
The Dow Jones Industrial Average hit fresh lows Tuesday afternoon as investors digested news that the U.S. is abandoning a 2015-era nuclear deal with Iran. The Dow fell 150 points, or 0.6%, at 24,207, touching its lowest level of the day, at last check. The S&P 500 index fell 0.5% at 2,658, while the Nasdaq Composite Index retreated by 0.4% at 7,233. In a 2 p.m. Eastern Time news conference Trump declared that he was withdrawing from the Iran nuclear pact, unraveling the agreement inked by former President Barack Obama about three years ago. “This was a horrible one-sided deal that should have never, ever been made,” Trump said news conference. Originally, stock trimmed losses but have recently pushed lower as markets assess the implications of the withdrawal, which runs opposed to the request of European leaders to remain in the agreement.