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Stocks pare worst losses after attacks

Tuesday, March 22, 2016 - 01:01

Stocks staged a comeback from intraday losses on Tuesday, to close out Tuesday's session with the major U.S. indexes relatively flat. Bobbi Rebell reports.

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A rally in healthcare stocks helped markets bounce back from morning losses following the wave of blasts in Brussels, though stocks still closed slightly to the downside. Fiduciary Trust's Ronald Sanchez says investors have become numb to news of deadly attacks. (SOUNDBITE) RONALD SANCHEZ, CHIEF INVESTMENT OFFICER, FIDUCIARY TRUST COMPANY, (ENGLISH) SAYING: "It's obvious that over ten years later, that the markets have become quite accustomed to isolated terrorist attacks, and that setbacks tend to be temporary. And, I think, that's a case in point today." Hardest hit: travel-related stocks - from airlines, like United Continental and American, to hotels, like Starwood, and travel agencies, like Priceline and Expedia. Investors sought safety in gold, driving gold stocks higher. Zillow's shares rose after RBC upgraded the real estate website operator to "outperform" from "sector perform." Other good news on the property front: U.S. home prices rose in January. Leisure stocks were losers in Europe after the attacks but the markets managed to close higher.

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Stocks pare worst losses after attacks

Tuesday, March 22, 2016 - 01:01