Tuesday’s drop in US stock indices was caused by investors waiting for this week’s important inflation and other economic data.
The S&P 500 was down 2.79 points, or 0.06 percent, at 5,066.74, the Nasdaq Composite was down 8.59 points, or 0.05 percent, at 15,967.67, and the Dow Jones Industrial Average was down 102.05 points, or 0.26 percent, at 38,967.18 at 09:44 a.m. ET.
The Dow Jones Industrial Average increased 18.67 points, or 0.05 percent, to 39,087.90 at the opening bell. The Nasdaq Composite rose 37.73 points, or 0.24 percent, at opening, while the S&P 500 gained 5.07 points, or 0.10 percent, at 5,074.60.
Tesla surged 2.3%, outperforming megacap stocks. Micron Technology gained 2.6% following a 4% surge in the prior trading session.
Stocks related to cryptocurrencies, like Coinbase, Marathon Digital, and Riot Platforms, increased by 3.3% to 8.6% as the price of bitcoin increased.
Tuesday’s European financial markets were largely quiet.
The FTSE 100 in Britain stayed unchanged at 7,684.72 points. At 7,933.08, France’s CAC 40 was unchanged. The DAX in Germany increased by 0.4% to 17,495.95.
The Euro Stoxx 50 increased by 0.3% to 4,877.25.
Hong Kong’s Hang Seng Index rose 0.9% to 16,790.80 on Asian stock markets. The Shanghai Composite of China increased by 1.3% to 3,015.48. Nikkei 225 in Japan was unchanged at 39,239.52.
By 1251 GMT, Brent crude futures had dropped 28 cents, or 0.34 percent, to $82.25 per barrel. The price of a barrel of US West Texas Intermediate (WTI) oil decreased by 21 cents, or 0.27 percent.
Due to a lack of momentum in the US currency and Treasury yields, gold prices increased on Tuesday. Spot gold increased by 0.3% to $2,035.92 an ounce as of 9:35 a.m. Eastern Time (1435 GMT). The price of an ounce of US gold futures increased by 0.3% to $2,044.10.
