Sector performance was divided, with six of the S&P 500's 11 primary sectors finishing in red. Communication services and materials led the declines, down 1.83 percent and 0.66 percent respectively.

Market history supports the idea that geopolitical shocks are often short-lived in their market impact. According to Deutsche Bank analysts Parag Thatte and Binky Chadha, the S&P 500 typically drops ...