An unwind seen earlier this week continued Tuesday, with technology, consumer and real estate shares leading U.S. equities lower. Treasury yields climbed for a fifth day.
The Dow Jones Industrial Average briefly turned positive following a report that the South China Morning Post said China is ready to buy more U.S. agricultural products.
The tech-heavy Nasdaq Composite Index retreated below its 50-day moving average, while S&P 500 also pushed lower. Areas of the market that were previously this year’s best performers fell the most. The opposite was true, too, with energy stocks surging and small caps outperforming for a second day.
The S&P 500 Index declined 0.4% to 2,965.23 as of 12:10 p.m. New York time. The Dow Jones Industrial Average dipped 0.2% to 26,792.83, the first retreat in a week. The Nasdaq Composite Index fell 0.7% to 8,043.29.
Source : Bloomberg