Investing.com - Washington's decision to slap fresh sanctions on
Russia for its alleged interference in Ukraine offset upbeat
earnings and data and sent U.S. stocks falling on Tuesday.
At the close of U.S. trading, the Dow 30 fell 0.41%, the S&P
500 index fell 0.45%, while the NASDAQ Composite index fell
The Volatility S&P 500 index, which measures the outlook for
market volatility, was up 6.21% at 13.34.
U.S. President Barack Obama announced on Tuesday that Washington
was slapping sanctions on Russian energy, defense and financial
sectors on accusations that Moscow continues to support separatists
in the Ukraine while amassing troops along its Ukrainian
The measures block of exports of certain goods and technologies
bound for Russia's energy sector, toughen up sanctions on Russian
financial and defense companies as well as suspend credit that
encourages exports to Russia as well as finance development
Europe followed suit with similar measures, and the moves
sparked fears the standoff will weigh on global growth, which
offset positive U.S. data and earnings and sent equities indices
falling on Tuesday.
The Conference Board reported that its consumer confidence index
rose to 90.9 in July from an upwardly revised 86.4 in June. It was
the highest reading since October 2007, defying consensus forecasts
for a decline to 85.3.
Better-than-expected earnings from Merck & Company Inc
(NYSE:MRK) and Pfizer Inc (NYSE:PFE) failed to sway investor
attention away from Ukraine.
Elsewhere in the U.S., investors took in stride the S&P/Case
Shiller Home Price Index.
The 20-city composite index for May grew 9.3% year-over-year,
down from April's 10.8% reading, though the 10-city index grew
9.4%, down from April's 10.9%, though markets have priced in
slackness in the U.S. housing sector.
Leading Dow Jones Industrial Average performers included
AT&T Inc (NYSE:T), up 2.65%, Dupont Fabros Technology Inc
(NYSE:DFT), up 1.36%, and Merck & Company Inc (NYSE:MRK), up
The Dow Jones Industrial Average's worst performers included
UnitedHealth Group Incorporated (NYSE:UNH), down 1.70%, United
Technologies Corporation (NYSE:UTX), down 1.48%, and Pfizer Inc
(NYSE:PFE), down 1.21%.
European indices, meanwhile, ended the day higher.
After the close of European trade, the DJ Euro Stoxx 50 rose
0.54%, France's CAC 40 rose 0.48%, while Germany's DAX rose 0.58%.
Meanwhile, in the U.K. the FTSE 100 rose 0.29%.
On Wednesday, stocks will move on the Fed's statement on
interest rates and monetary policy as well as revised
second-quarter U.S. GDP growth data and the ADP report on private
sector job creation.
offers an extensive set of professional tools for the financial
Read more News on Investing.com and download the new
Investing.com Stocks & Forex App