Tuesday’s drop in US stock indices was caused by investors waiting for this week’s important inflation and other economic data.
The information may provide hints regarding when the US Federal Reserve will lower interest rates.
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 increased by 37.73 points, or 0.24 percent, to 16,013.98, while the S&P 500 began up by 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.
As significant players began purchasing bitcoin, cryptocurrency-related stocks like Riot Platforms, Coinbase, and Marathon Digital added 3.3% to 8.6% to the value of the cryptocurrency.
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.
Tuesday’s oil prices remained unchanged. 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.
