FXstreet.com (Córdoba) - US stocks extended losses into a third
session on Tuesday as investors remained focused on European woes
while weaker-than-expected domestic data and UPS cutting its
outlook weighed on sentiment.
The Dow Jones industrial average dropped 91 points, or 0.72%, to
12,630. The Standard & Poor's 500 fell 9 points, or 0.68%, to
1,341. The Nasdaq Composite Index lost 14 points, or 0.49%, to
In the macroeconomic domain, the Markit Economics' preliminary July
reading showed the US manufacturing sector is barely expanding this
month. Meanwhile, a reading on manufacturing activity in the
Richmond area slumped to -17 points in July versus a flat reading
On the other hand, May housing price index rose 0.8% in May,
surpassing expectations of a 0.6% rise.
European markets edged lower European, with the Stoxx Europe 600
down 0.1%, after discouraging manufacturing data and Moody's put
Germany, Netherlands and Luxembourg on negative ratings watch.
The Spain's Ibex 35 is leading losses in the region, down 3.3% as
Spanish 10-year yields reached yet another record high above 7.6%
Gold was nearly flat at $1578 an ounce, while crude-oil futures
rose 0.2% to $88.32 a barrel after losing 4% on Monday.