US Stock Markets Close Lower Amid Uncertainty
The US stock markets closed lower on Tuesday, with the Dow Jones Industrial Average declining by 0.3 percent, or 126 points, to 42,677. The S&P 500, a broader market index, dropped 0.4 percent, or 24 points, to 5,940, while the tech-heavy Nasdaq 100 fell 0.4 percent, or 88 points, to 21,367.
Investors, who had shown relief in recent days over the pause in the US-China trade conflict, grew more cautious on Tuesday, reflecting the uncertainty surrounding the Trump administration’s trade policies. Even Federal Reserve officials, who had been expected to consider a rate cut, appeared more hesitant, potentially pushing a potential rate cut further into the future.
Meanwhile, the euro strengthened against the US dollar, with one euro buying 1.1279 dollars and the dollar fetching 0.8866 euros. Gold prices surged, with an ounce of gold rising 2.1 percent to $3,294, or €93.91 per gram. Crude oil prices also inched up, with a barrel of Brent crude oil trading at $65.62, an 0.1 percent increase from the previous day’s close.