US stocks slide amid geopolitical tensions, weak economic data

US stocks slid at the opening of trading today, June 17, amid escalating geopolitical tensions between Israel and Iran, in addition to disappointing US retail sales data.

The Dow Jones Industrial Average dropped by as much as 0.35%, or 142 points, to 42,372 points as of 4:36 PM Makkah time.

The S&P 500 Index also declined by 0.4%, or 22 points, to 6,009 points, and the Nasdaq Composite Index fell by 0.45%, or 85 points, to 19,609 points.

A post by US President Donald Trump on the “Truth Social” platform today morning raised concerns, as he called for the “immediate evacuation of Tehran,” coinciding with his early departure from the G7 Summit in Canada.

Official data released today showed that US retail sales slipped by 0.9% month-on-month to $715.4 billion in May, compared to expectations of a 0.6% decline, mainly due to a drop in auto sales amid Trump’s tariff policies.

The Federal Reserve is expected to keep interest rates unchanged in the range of 4.25-4.5% for the fourth consecutive time tomorrow, while markets are anticipating the decision makers’ quarterly updates for insights into future monetary policy.