S&P 500, Nasdaq hit 2-week lows

The benchmark S&P 500 and the Nasdaq traded near two-week lows on Wednesday as investors priced in a possible escalation in geopolitical tensions in the West Asia while a survey allayed worries about a rapid cooldown in the US labor market.

Markets were wary as Israel and the US vowed to strike back after Iran attacked Israel on Tuesday, following which the S&P 500 and the Nasdaq logged their biggest one-day drops in nearly a month.

The Dow Jones Industrial Average gained 28.72 points, or 0.07 per cent, to 42,175.03, the S&P 500 lost 13.30 points, or 0.24 per cent, to 5,694.09 and the Nasdaq Composite lost 88 points, or 0.49 per cent, to 17,825.69.