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How major USA stock indexes fared Tuesday

23 November, 2018, 14:05 | Author: Sara Gill
  • Traders work on the floor at the New York Stock Exchange in New York City U.S

The S&P 500 index fell 45.54 points, or 1.7 percent, to 2,690.73.

Apple fell 4.7 percent to $177.10 and is down 24.2 percent from the peak it reached October 3, though it's still up for the year.

The Nasdaq composite skidded 219.40 points, or 3%, to 7,028.48.

The S&P 500 fell 30 points, or 1.1 percent, to 2,660. "A lot of the companies that are front and center - Alphabet, Apple, IBM - could be significantly limited in the way they export their technology".

The Russell 2000 is down 58.52 points, or 3.8 percent.

Target stock tumbled 11 percent after reporting weaker-than-expected earnings for the third quarter.

Industrial companies also took a beating. SAP, which provides business software and cloud computing services, was down over 1 percent, as was chip maker Infineon Technologies. That's about $900 billion in value lost by just those four companies.

Apple, Microsoft and Amazon, the most valuable companies on the market, sustained some of the worst losses. Investors now value Apple at about $845 billion. The company said sales broke out of a slump and prices also rose.

Three major factors contributed to Tuesday's sell-off, namely the disappointing news about the some big retail names, the continued tech sector sell-off, and the oil price plunge, said analysts. Home improvement company Lowe's gained 2.5 per cent to $88.37 and Nike rose 1.8 per cent to $72.37. Twitter shares sank 3.5 percent.

It sets up the Australian sharemarket for steep falls to open the session on Wednesday, with futures pointing to a 52-point, or 0.9 per cent drop, at the open.


The losses came after benchmark USA oil prices slid 6.6% to US$53.43 (RM223.84) per barrel, the lowest level in more than a year, amid worries over excess supply. Gold gained 0.6 per cent to $1,228 an ounce.

Crude prices have plunged since early October as global stockpiles surged.

Saudi Arabia and other countries started producing more oil after the Trump administration announced renewed sanctions on Iran, Ms. Nixon noted.

BONDS: Bond prices fell. That sent interest rates higher, which helped banks.

Amazon rose 1.4 per cent to $1,516.73 and Facebook jumped 1.8 per cent to $134.75.

PG&E stock fell 4.8 percent to $23.21. Advancing issues outnumbered decliners by a 2.62-to-1 ratio on the Nasdaq. The yield on the 10-year Treasury note held steady at 3.07 percent.

US crude rose 2.7 percent to $54.87 per barrel.

The dollar rose to ¥112.80 from ¥112.54. The euro edged up to $1.1403 from $1.1399.

France's CAC 40 gave up 0.8% and Germany's DAX slid 0.9%.

In Asia, Japan's benchmark Nikkei 225 dropped 0.4 per cent and the Kospi in South Korea was down 0.3 per cent. Hong Kong's Hang Seng index rose 0.5 per cent. Eastern time. The benchmark index has fallen 9.5 percent from its record high two months ago.

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