US Market ends lower

The US stock market finished choppy session lower on Tuesday, 06 September 2022, as risk aversion sellof triggered amid concerns about the outlook for interest rates after stronger-than-expected reading on the U.S. services sector in the month of August. Meanwhile, concerns over the supply of energy to Europe also drove markets down.

At the close of trade, the Dow Jones Industrial Average index declined 173.14 points, or 0.55%, to 31,145.30. The S&P500 index was down 16.07 points, or 0.41%, to 3,908.19. The tech-heavy Nasdaq Composite Index decreased by 85.96 points, or 0.74%, to 11,544.91.

ECONOMIC NEWS: The Institute for Supply Management released a report showing its services PMI inched up to 56.9 in August from 56.7 in July, with a reading above 50 indicating growth in the sector.

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