US equity markets experienced a slight downturn on Tuesday, concluding a day of cautious trading. The Dow Jones Industrial Average closed at 34,112 points, a decrease of 0.1% compared to the previous trading session.
Earlier in the day, the broader S&P 500 registered around 4,099 points, down 0.4%, while the technology-focused Nasdaq 100 stood at approximately 2,901 points, reflecting a 0.7% decline.
Ongoing trade policy decisions from the US administration continue to influence market sentiment. President Trump’s tariffs remain a key factor, with various nations actively seeking agreements to prevent the tariffs announced in April. The President has signaled potential for further tariff increases, including a potential rise in tariffs on pharmaceuticals to as high as 250%. He also urged the European Union to uphold investment commitments made to the United States, warning that failing to do so could lead to a doubling of planned tariffs on most EU products, increasing them from 15% to 35%.
The euro strengthened slightly against the US dollar during Tuesday evening, trading at $1.1573, with the dollar fetching €0.8641.
Gold prices saw a modest increase, reaching $3,379 per fine ounce (+0.1%), equivalent to €93.88 per gram.
Conversely, oil prices decreased; a barrel of Brent North Sea crude was priced at $68.07, a decline of 69 cents or 1.0% compared to the closing price of the previous trading day.