Markets mixed after deadly attacks in Brussels

Mar 23, 2016 (LBO) European markets recovered from early losses after deadly attacks in Brussels killed 31 people and injured more than 230.

France’s CAC and Germany’s DAX index fell 2 percent early on, but recovered by close. The CAC closed up 0.09 percent and the DAX up 0.42 percent. The FTSE closed up 0.12 percent.

In other markets, China’s CSI ended down 0.73 percent, S&P 500 down 0.09 percent and NASDAQ up 0.27 percent.

Safe havens like gold and U.S. Treasuries climbed amid a drop in oil prices.

On Wednesday, Brent Crude was down 0.67 percent to 41.51 dollars a barrel, Gold was at 1245.25, down 0.25 percent, after rallying from a low of 1061.10 at the end of the year.

Wall Street spent most of the session lower as investors wrestled with the fallout of the attacks in Belgium.

Banks have become a proxy for market sentiment in 2016, bearing the brunt of the selloffs since the beginning of the year, said Tom Cassidy, chief investment officer at Univest Wealth Management.

Apple Inc. shares AAPL, gained 0.8 percent despite some analysts saying the iPhone product event on Monday was underwhelming.

Travel-related stocks, financials and consumer staples were weaker.

Wireless carriers offered free calls and texts in and out of Brussels after the attacks, with companies such as AT&T, Verizon, T-Mobile, Sprint, Virgin Mobile USA and Boost Mobile participating.

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