US market close: Dow dives 540 points
By Joseph Toppe
21:23, 18 January 2022
The Dow Jones Industrial Average declined 543 points, or 1.51%, to extend its three-session losing streak, the S&P 500 slipped 1.84%, while the Nasdaq Composite went down 2.60% on Tuesday.
Halfway through the session, the Dow was down around 1.48%, the S&P was down roughly 1.50%, and the Nasdaq declined about 1.78%.
Tech stays down
After starting the day in negative territory, afternoon trading did little to turn the session around for major tech stocks as shares of Adobe dipped 1.39%, Apple fell 1.89%, and Meta Platforms slipped 4.14%.
Following reports the Biden Administration was investigating Alibaba to determine if the e-commerce company is a risk to national security, US listed shares for the Chinese-based company are down 2.26%, after falling 0.35% at the halfway point.
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Oil: Best since 2014
Oil futures went higher on Tuesday as West Texas Intermediate crude for February delivery rose $1.61, or 1.9%, to settle at $85.43 a barrel on the New York Mercantile Exchange, while March Brent crude tacked on $1.03, or 1.2%, to end at $87.51 a barrel on ICE Futures Europe.
Gold: Yellow metal recedes
Gold futures fell despite hitting small gains midway through the session.
February gold lost $4.10, or 0.2%, to settle at $1,812.40 an ounce after trading as high as $1,822.40.
Forex: Yield two-year best
On Tuesday, one US dollar equals $1.25 of the Canadian dollar, $0.88 of the euro, and $0.74 of the Pound sterling.
The yield on the benchmark 10-year Treasury went up to 1.827%, its highest level in two years.
Read more: Bitcoin trades below ,000 as interest softens
Markets in this article
Adobe Systems Inc (Extended Hours)
Advanced Micro Devices Inc (Extended Hours)
Alibaba Group Holding Limited (Extended Hours)
Amazon.com Inc (Extended Hours)
Apple Inc (Extended Hours)