New york: US stock markets closed lower on Tuesday, with all three major indices retreating amid investor concerns over economic uncertainty and interest rate outlooks.
According to Qatar News Agency, the benchmark S and P 500 shed 25.75 points, or 0.38%, to close at 6,714.53, marking a modest pullback following last week’s mixed performance.
The tech-heavy Nasdaq Composite posted a steeper decline, losing 155.52 points, or 0.68%, to finish at 22,786.14. Technology and growth stocks led the slide, as higher bond yields continued to weigh on valuations.
Meanwhile, the Dow Jones Industrial Average fell 91.99 points, or 0.20%, ending the session at 46,602.98.
Investors are closely watching developments in the bond market, where yields have remained elevated, and awaiting fresh economic data and signals from the Federal Reserve regarding future interest rate moves.
Market sentiment has also been tempered by global geopolitical tensions and concerns over a potential slowdown in corporate earnings as the third-quarter reporting season approaches.