U.S. Stocks Extend Slide as Risk Sentiment Fades
Equity markets declined across the board, with the Dow, S&P 500 and Nasdaq finishing in negative territory.
The Dow and broader U.S. stock market declined on Tuesday, as investors continued to monitor economic data and rising prices.
Wall Street’s major averages were lower at the close, with the Dow Jones Industrial Average (DIA) falling 117.98 points, or 0.3%, 34,378.08.
The broad S&P 500 Index (SPY) of large-cap stocks fell 0.2% to close at 4,350.61. Most sectors finished in negative territory.
Meanwhile, the technology-focused Nasdaq Composite Index (QQQ) declined 0.1% to close at 14,465.92.
A measure of implied volatility known as the CBOE VIX (VXX) declined on Tuesday. The so-called “investor fear index” reached an intraday low of 18.97 on a scale of 1-100, where 20 represents the historical average. It would eventually settle down 0.4% at 19.90.
In commodities, oil prices were lower on Tuesday, as U.S. West Texas Intermediate futures fell 5 cents, or 0.1%, to $80.47 a barrel on the New York Mercantile Exchange. Brent, the international futures contract, dipped 44 cents, or 0.5%, to $83.21 a barrel.
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In precious metals, gold prices edged slightly lower, as the December futures contract declined $2.70, or 0.2%, to $1,754.70 a troy ounce on the Comex division of the New York Mercantile Exchange. Silver futures edged down 9 cents, or 0.4%, trade at $22.62 a troy ounce.
The Final Word: U.S. economic data continues to disappoint, as per the latest jobs report. On Friday, the Department of Labor reported that companies added just 194,000 workers to payrolls in September, which was far fewer than the 500,000 expected.