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U.S. stocks edge lower after two days of gains
Kate Spade tumbles, Intercept shares jump
NEW YORK (MarketWatch) — U.S. stocks edged lower Tuesday as investors remained jittery amid tension between Ukraine and Russia and lingering concerns about sectarian wars in the Middle East.

Fears over geopolitical tensions and a potential U.S. interest rate hike pushed investors to scale back risk and increased cash levels to two-year high this month, according to a B. of A. Merrill Lynch fund-manager survey.

The S&P 500 (SNC:SPX) fell 5.7 points, or 0.3% to 1,931.26. The Dow Jones Industrial Average (DJI:DJIA) lost 36 points, or 0.2%, to 16,533.08. The Nasdaq Composite (NASDAQ:COMP) dropped 17 points, or 0.4%, to 4,383.01.

Steven Wieting, global chief investment strategist at Citi Private Bank, said recent geopolitical headlines have catalyzed de-risking across world financial markets.

Wieting warned, however, that “at a time when markets now suddenly begin to appreciate risk, we should not suddenly ignore a reality in which U.S. corporate earnings have risen 35% from post-2007 peaks, share prices have risen a less robust 22%, and profit gains persist.”

Geopolitical developments on Tuesday undermined optimism among global investors. http://www.marketwatch.com/story/us-stocks-futures-edge-up-labor-market-snapshot-due-2014-08-12?link=MW_home_latest_news