At the close of trade, the Dow Jones Industrial Average index was down 208.98 points, or 0.6%, to 34,577. The S&P 500 index fell 8.80 points, or 0.2%, at 4,344. The tech-heavy Nasdaq Composite Index was up 24.32 points, or 0.17%, to 14,664. U.S. markets were closed Monday for the Independence Day holiday.
Total 7 out of 11 S&P 500 sectors closed down, with energy (down 3.2%) was worst performer, followed by financials (down 1.6%), materials (down 1.4%), and industrials (down 0.9%), while real estate (up 0.9%) was top performer, followed by consumer discretionary (up 0.8%), and utilities (0.4%) issues.
Energy stocks suffered heavy losses on profit booking as crude oil prices declined after surging to six-year highs. West Texas Intermediate futures for August fell 1.8% in New York.
Shares of banks and financials were lower as a plunge in Treasury yields to the lowest since February. The benchmark 10-year yield fell as much as 7.4 basis points to just under 1.35%, the lowest level since Feb. 24. The 30-year bond's yield slid 5 basis points to 1.99%
Ride-hailing firm Didi Global Inc. plunged 20% after a Chinese regulator ordered the removal of its platform from app stores, days after its U.S. listing.
ECONOMIC NEWS: Institute for Supply Management data showed its services PMI slid to 60.1 in June from 64.0 in May, although a reading above 50 still indicates growth in the sector.
Among Indian ADR, Tata Motors fell 11.8% to $20.33, Wipro fell 1.16% to $7.67, and Dr Reddys Labs was down 1.25% to $74.35, INFOSYS added 0.19% to $21.11, ICICI Bank added 0.17% to $17.31, Vedanta added 1.2% to $14.32, HDFC Bank added 1.76% to $74.44, and WNS Holdings added 1.27% to $82.78.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
