Source: Sharecast
The Dow Jones Industrial Average finished down 0.54% at 24,174.82, the S&P 500 lost 0.49% to 2,713.22, and the Nasdaq 100 slipped 1.17% to 7,014.55.
It was in stark contrast to the day’s open, when the Dow jumped 80 points after the bell.
“The Dow hasn’t had too much to deal with this Tuesday, and has tomorrow off for the 4th July celebrations, so it’ll be hoping it can get to the end of the US session unscathed,” noted SpreadEx financial analyst Connor Campbell before the bourses turned sour.
On Monday, stocks managed to reverse early losses to close up thanks to a rally in the technology sector.
In currency markets, the dollar was flat against the euro after the common currency found some support from news that German chancellor Angela Merkel has secured a deal to prevent her coalition from collapsing.
“German political concerns have been largely eradicated over the past week, with the recent EU deal on migrants clearly removing a key hurdle between Angela Merkel’s CDU party and their Bavarian sister party, the CSU,” said IG analyst Joshua Mahony.
“With German leadership looking relatively stable under Merkel, the likely continuation of her leadership allows investors to look beyond domestic affairs and concentrate back on the global picture once again.”
Escalating trade tensions were the theme of the day once again, however, particularly after it emerged that the Trump administration recommended to the Federal Communications Commission that China Mobile not be allowed to enter the US telecommunications market for reasons of national security.
The National Telecommunications and Information Administration, a branch of the Commerce Department, said on Monday that China Mobile’s entry "would pose unacceptable national security and law enforcement risks".
On the data front, the ISM NY index for business conditions showed conditions eased throughout June, dropping from 56.4 in May to 55.
The fall, the second monthly decline in a row, was in stark contrast to the six-month outlook of 85.7 reported in December 2017, the highest level of optimism seen in over a decade.
In other news, US factory orders rose 0.4% in May, led by an increase in demand for machinery and military wares.
Economists had expected the reading, which followed a 0.8% decline in April, to come in flat month-on-month.
On the corporate front, electric car maker Tesla dropped 7.23% after the Journal revealed that Elon Musk's top engineer Doug Field was leaving.
Elsewhere, Micronet Enertec Technologies surged 28.57% following news that BNN Technology bought a 15% stake in the company last month.
Dow Jones - Risers
Johnson & Johnson (JNJ) $122.71 0.93%
Exxon Mobil Corp. (XOM) $82.24 0.59%
Verizon Communications Inc. (VZ) $50.70 0.56%
Coca-Cola Co. (KO) $43.99 0.55%
Walmart Inc. (WMT) $84.44 0.52%
Merck & Co. Inc. (MRK) $60.71 0.41%
Chevron Corp. (CVX) $124.73 0.39%
Travelers Company Inc. (TRV) $122.77 0.31%
3M Co. (MMM) $195.83 0.16%
Pfizer Inc. (PFE) $36.35 0.06%
Dow Jones - Fallers
Nike Inc. (NKE) $76.32 -2.64%
Caterpillar Inc. (CAT) $133.83 -1.80%
Apple Inc. (AAPL) $183.92 -1.74%
Intel Corp. (INTC) $49.47 -1.45%
JP Morgan Chase & Co. (JPM) $103.61 -1.40%
Goldman Sachs Group Inc. (GS) $220.38 -1.29%
Walt Disney Co. (DIS) $104.04 -1.22%
American Express Co. (AXP) $97.84 -1.17%
Microsoft Corp. (MSFT) $99.05 -0.96%
Dowdupont Inc. (DWDP) $65.15 -0.94%
S&P 500 - Risers
SCANA Corp. (SCG) $40.38 4.05%
Bed Bath & Beyond Inc. (BBBY) $20.03 3.62%
CenturyLink Inc. (CTL) $19.11 3.08%
Marathon Oil Corp. (MRO) $21.27 2.95%
Urban Outfitters Inc. (URBN) $46.40 2.88%
Spectra Energy Corp. (SE) $14.87 2.48%
Apache Corp. (APA) $45.78 2.46%
Express Scripts Holding Co (ESRX) $79.91 2.46%
Pitney Bowes Inc. (PBI) $8.86 2.43%
Kimco Realty Corp. (KIM) $16.66 2.08%
S&P 500 - Fallers
Micron Technology Inc. (MU) $51.48 -5.51%
United States Steel Corp. (X) $33.93 -3.42%
Lam Research Corp. (LRCX) $167.25 -3.35%
Qorvo, Inc. (QRVO) $77.44 -3.32%
Interpublic Group of Companies Inc. (IPG) $22.34 -3.04%
W.W. Grainger Inc. (GWW) $297.76 -2.79%
Nike Inc. (NKE) $76.32 -2.64%
NetApp Inc. (NTAP) $77.29 -2.39%
Facebook Inc. (FB) $192.73 -2.35%
Delta Airlines Inc. (DAL) $48.78 -2.28%
Nasdaq 100 - Risers
Express Scripts Holding Co (ESRX) $79.91 2.46%
Charter Communications Inc. (CHTR) $299.51 1.91%
Liberty Global plc Series A (LBTYA) $28.19 1.81%
Qurate Retail Inc. (QRTEA) $21.50 1.80%
Liberty Global plc Series C (LBTYK) $27.17 1.76%
Vodafone Group Plc ADS (VOD) $24.56 1.32%
DENTSPLY Sirona Inc. (XRAY) $44.53 1.25%
Expedia Group Inc. (EXPE) $123.25 1.19%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $235.28 1.18%
Henry Schein Inc. (HSIC) $74.02 0.93%
Nasdaq 100 - Fallers
Tesla Inc (TSLA) $310.86 -7.23%
Micron Technology Inc. (MU) $51.48 -5.51%
Lam Research Corp. (LRCX) $167.25 -3.35%
Facebook Inc. (FB) $192.73 -2.35%
Maxim Integrated Products Inc. (MXIM) $57.76 -2.30%
Alphabet Inc. Class A (GOOGL) $1,116.28 -2.26%
Nvidia Corp. (NVDA) $236.84 -2.23%
Alphabet Inc. Class C (GOOG) $1,102.89 -2.18%
KLA-Tencor Corp. (KLAC) $101.60 -2.12%
Asml Holdings N.V. (ASML) $191.47 -1.94%
