NEW YORK (dpa-AFX) – The US stock markets plummeted on Tuesday after a long weekend. After the holiday the day before, disillusionment and worries shaped what happened. Relief at talks between the US and China to potentially roll back some of the trade tariffs once introduced under Donald Trump once again gave way to persistent fears of a recession.
Data from Europe also made sure of that this time. According to a second estimate, business sentiment in the euro area clouded over significantly and fell to a 16-month low. In the US, on the other hand, although better than expected industrial orders data for the month of May were released, such data have become secondary given the prevailing supply chain problems and the resulting backlogs.
The leading index Dow Jones Industrial was down 1.78 percent in early trade to 30,544.29 points, extending a little over a 1 percent loss last week. For the market-wide S&P 500 it fell 1.80 percent on Tuesday to 3756.40 points. The tech-heavy Nasdaq 100 lost 1.17 percent to 11,449.79 points. He had lost a little more than four percent in the past week./ck/jha/
ISIN US2605661048 US6311011026 US78378X1072
AXC0259 2022-07-05/16:24
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