US stocks edge down as turmoil in the Middle East continues to rage on.
The Dow Jones Industrial average closed down 17.90 points, or 0.15 percent, at 12,018.63. The S&P 500 Index lost 4.61 points, or 0.36 percent, to end at 1,293.77. The Nasdaq Composite fell 0.31 percent.
Drugstore chain Walgreen (NYSE:WAG) plunged 6.58 percent after it reported second quarter earnings that were higher than last year’s, but below the heightened expectation of investors.
Meanwhile, Bristol-Myers (NYSE:BMY) rose 1.12 percent on positive news regarding its skin cancer drug that’s currently awaiting approval from the US Food and Drug Administration.
Crude oil futures rose 1.6 percent on the ongoing conflict in the Middle East. Libya continues to be embroiled in a civil war, while Yemeni President Ali Abdullah Saleh warned that his country may descend into one as well.
News coming out of Japan was generally positive and the Japanese stock market rose over 4 percent coming out of Monday’s public holiday. However, for US stocks, optimism over the containment of Japan’s nuclear crisis has already been discounted through Monday’s rally.