Dow falls 107 points as Middle East tensions and profit-taking curb risk appetite

U.S. stocks closed lower on August 14 as escalating Middle East tensions and profit-taking after the previous session's rally led investors to trim exposure to risk assets before the weekend. The Dow Jones Industrial Average fell 107.58 points, or 0.20%, to 53,732.41; the Nasdaq Composite lost 73.86 points, with one account rounding the decline to 73.87, to 26,729.16, its first decline in three sessions; and the S&P 500 slipped 13.23 points, or 0.17%, to 7,785.76. Selling pressure broadened after the U.S. signaled it may indefinitely maintain its naval blockade of Iran around the Strait of Hormuz, reducing expectations for near-term progress in negotiations to end the war and reinforcing concerns about disruption to a key global oil shipping route. Salesforce and Nike were notable decliners, while Walt Disney rose as investors favored relatively defensive exposure. In Asia, investors assessed whether Tokyo stocks could hold above 68,000 after the Nikkei closed up 405.21 points, or 0.59%, at 68,713.80 on August 14, with dollar-yen near 159 seen as a potential support for export-related shares.

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