US stock markets presented a mixed performance on Tuesday, closing with varied results. The Dow Jones Industrial Average concluded trading in New York at 44,023 points, marking a decrease of 1.0 percent compared to the previous day’s close.
Earlier in the session, the broader S&P 100 index registered a slight decline, closing around 6,255 points, down 0.2 percent. Conversely, the technology-focused Nasdaq 100 saw a minor increase, reaching approximately 22,930 points, up 0.1 percent.
Recent data indicating a renewed increase in US inflation has prompted market observers to suggest a potential link to the tariffs implemented by the US administration. This development may complicate calls from the administration advocating for interest rate reductions by the Federal Reserve, led by Jerome Powell, as a means to stimulate the economy. A higher inflation rate reinforces the Federal Reserve’s rationale for maintaining current interest rate levels, potentially delaying previously anticipated rate cuts.
The euro weakened against the US dollar on Tuesday evening, trading at $1.1601, equivalent to €0.8620 per dollar.
Gold prices also experienced downward pressure, fetching $3,329 per fine ounce (-0.4 percent), which translates to €92.27 per gram.
Crude oil prices similarly retreated, with a barrel of Brent North Sea crude costing $68.86 at approximately 10:00 PM German time, a decrease of 35 cents, or 0.5 percent, from the previous day’s closing price.