Close Update: Stocks Retreat With Dow at Lowest in Three Weeks

Stocks posted losses by the close on Tuesday, with the Dow Jones Industrial Average at the lowest level in three weeks and the Nasdaq Composite falling to a seven-week low.

All 10 of the S&P 500 sectors were in the red, led by a 2.2% drop in energy shares as oil prices retreated. Materials stocks were down 1.7% as commodities declined and financials retreated 1.3%. Just five of the 30 blue chip stocks on the Dow managed gains, including tech giant Apple ( AAPL ), which snapped an eight-day slide.

Global growth worries were sparked by data showing China's Caixin manufacturing index fell deeper into contractionary mode. The UK purchasing manager's manufacturing index also fell below the 50.0 threshold separating growth and contraction, dropping its lowest level in over three years with a 49.2 reading.

The Reserve Bank of Australia also surprised financial markets with an interest-rate cut of 25 basis points and signalling plans to further trim rates if inflation fails to rise.

Oil prices retreated, with US crude futures down a third day to $43.68 a barrel. Gold, silver and copper also posted losses.

Here's where the markets stood at the close:


Dow Jones Industrial Average was down 140.25 points (-0.78%)

S&P 500 was down 18.06 points (-0.87%)

Nasdaq Composite Index was down 54.37 points (-1.13%)


FTSE 100 was down 0.9%

Nikkei 225 was closed

Hang Seng Index was down 1.85%

Shanghai China Composite Index up 1.85%


(+) AXTI (+13.21%) Reported better-than-expected Q1 results

(+) PTX (+11.72%) Extending Monday's gains after Point 72 takes 5.8% stake

(+) MNK (+6.8%) Fiscal Q2 results beat street estimates, raises guidance

(+) AAPL (+1.64%) Halts eight-day retreat


(-) CUR (-40.67%) Announces sale of shares and warrants

(-) ONDK (-33.73%) Reported disappointing Q1 sales and earnings, issues below consensus guidance

(-) RVLT (-15.34%) Prices 2.7 mln share offering at 24% discount

(-) RAIL (-13.41%) Quarterly results miss Street estimates

(-) CYH (-5.53%) Reported disappointing quarterly results, selling assets to pay down debt

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Other Topics


Latest Markets Videos


    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More