Red dominates US stocks despite the strong recovery of the Dow Jones
US stocks fell today, Tuesday, despite trimming some losses, while traders on Wall Street tried to achieve a strong recovery for the second day in a row amid tensions in the Middle East and the military conflict between the United States and Iran.
The Dow Jones Industrial Average lost 371 points, retreating by 0.8%, after falling sharply by more than 1,200 points, or about 2.6%, at its lowest level during the session.
The Standard & Poor’s index fell by more than 1,200 points, or about 2.6%, at its lowest level during the session. 500 by 0.9%, as well as the Nasdaq Composite Index. At their lowest levels during the day, the Standard & Poor’s 500 index lost 2.5%, and the Nasdaq index fell by about 2.7%.
All sectors of the Standard & Poor’s 500 index, except for the financial sector, recorded a decline today, Tuesday. The materials and industrial sectors witnessed the largest losses amid fears that the rise in Oil prices and borrowing costs put pressure on the US economy. Sharesof many major technology companies such as Nvidiawhich led the market’s recovery the previous day.
Shares of American memory manufacturers were also under pressure, similar to the notable declines witnessed by shares of memory chip manufacturers in South Korea.
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