US stock indices slipped on Tuesday on rising Treasury yields. At 9:37 am ET, the Dow Jones Industrial Average was down 232.22 points, or 0.62 per cent, at 37,450.79. The S&P 500 was down 25.67 points, or 0.54 per cent, at 4,737.87. The Nasdaq Composite was down 96.80 points, or 0.65 per cent, at 14,746.97.
Megacap stocks Microsoft, Apple, Nvidia and Amazon shed between 0.7 per cent and 2 per cent.
Shares of Tesla were down more than 2%.
Netflix lost 1.6 per cent after brokerage Citigroup downgraded the streaming platform to “neutral” from “buy”.
The 10-year benchmark US Treasury yield was up at 4.02 per cent and was sharply above a five-month low of 3.783 per cent hit on December 27.
The US dollar fell 0.09 per cent against the yen to 144.09. The euro was down 0.1 per cent on the day at $1.0934.
The Dow Jones Industrial Average fell 159.46 points, or 0.42 per cent, at the open to 37,523.55. The S&P 500 opened lower by 21.61 points, or 0.45 per cent, at 4,741.93. The Nasdaq Composite dropped 99.64 points, or 0.67 per cent, to 14,744.13 at the opening bell.
Boeing continued its fall on Tuesday, with the stock dropping 1.9 per cent.
On Monday, US stocks closed higher. The Dow Jones Industrial Average rose 216.90 points, or 0.58 per cent, to 37,683.01, the S&P 500 gained 66.30 points, or 1.41 per cent, to 4,763.54 and the Nasdaq Composite gained 319.70 points, or 2.20 per cent, to 14,843.77.
In Europe
Stock markets were lower after the industrial output of Germany contracted. Industrial production of Germany, Europe’s largest economy, fell 0.7 per cent in November.
Britain’s FTSE 100 edged down 0.1 per cent at 7,688.67 points. Germany’s DAX fell 0.4 per cent at 16,642.92 points. France’s CAC 40 lost 0.5 per cent at 7,413.18 points.
In Asia
stock markets, China’s Shanghai Composite rose 0.3 per cent to 2,897.34. Hong Kong’s Hang Seng Index slipped 0.2 per cent to 16,190.02.
Japan’s Nikkei 225 edged up 1.2 per cent at 33,763.18.
South Korea’s Kospi shed 0.3 per cent to 2,561.24. Australia’s S&P/ASX 200 jumped 0.9 per cent to 7,520.50.
Oil prices surged more than $2 on Tuesday on Middle East tensions and reduced Libyan output. Brent crude futures rose by $2, or 2.63 per cent, to $78.12 a barrel at 1312 GMT, while US West Texas Intermediate crude futures gained $2.09, or 2.95 per cent, to $72.86 a barrel.
Gold prices rose on Tuesday after falling to a three-week low in the previous session.
Spot gold was up 0.3 per cent at $2,034.70 per ounce, as of 1248 GMT. US gold futures rose 0.4 per cent to $2,041.70 per ounce.
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