Due to diminishing expectations of an early interest rate cut, US stock indices began down on Tuesday.
At the opening, the Dow Jones Industrial Average dropped 51.73 points, or 0.13 percent, to 38,576.26. At the opening bell, the Nasdaq Composite fell 95.81 points, or 0.61 percent, to 15,679.84, while the S&P 500 opened lower by 16.25 points, or 0.32 percent, at 4,989.32.
Tuesday saw a general increase in European stocks as China’s central bank lowered the benchmark lending rate in an effort to stimulate the economy. The FTSE 100 in Britain increased by 0.2% to 7,743.43 points. The CAC 40 of France increased by 0.4% to 7,795.21. The DAX in Germany dropped 0.1% to 17,066.93.
At 4,764.03, the Euro Stoxx 50 was flat. China’s Shanghai Composite gained 0.4% to close at 2,922.73 on Asian stock markets. The Hang Seng Index for Hong Kong increased 0.6% to 16,247.51. The Nikkei 225 of Japan decreased by 0.3% to close at 38,363.61.
By 1255 GMT, Brent futures had dropped 80 cents, or 0.96 percent, to $82.76 per barrel.
After dropping $1 earlier, US West Texas Intermediate (WTI) crude for April delivery dropped 92 cents, or 1.17 percent, to $77.54 a barrel.
Tuesday saw an increase in gold prices as the US currency declined.
As of 9:37 a.m. ET (1437 GMT), spot gold was up 0.6% at $2,028.79 per ounce. US gold futures increased by 0.8% to $2,040.00 an ounce.
