By Noel Randewich and Devik Jain
(Reuters) – Wall Street ended lower after a waves session on Tuesday, with geopolitical tensions that widened after the speaker of the US Council of Representatives Nancy Pelosi visited Taiwan.
Pelosi said his journey showed American solidarity with the island claimed by China, but China condemned the first visit like that in 25 years as a threat to peace and stability.
Microsoft Weight Beater (Nasdaq: MSFT) and Visa (Nyse: V) each loses 1.1% and 2.4%, weighing S&P 500. All 11 S&P 500 Sector Index Land Loss, Led Lower by Real Estate, which is loss of 1.3%. Finance dropped 1.1%.
Chip maker shares that are very exposed to China are diverse. Advanced Micro Devices (Nasdaq: AMD) rose 2.6% in front of his quarterly report after the bell.
Industrial Bellwether Caterpillar (Nyse: CAT) fell 5.8% after a warning to decrease greater demand for excavators in the property crisis hit by a crisis, piling up more pain in the industrial belwether that is wrestling with supply chain disorders.
The financial market has been fulfilled in recent months by the Ukraine War, soaring inflation and tightening financial conditions.
U.S. Job Vacancies In June it fell most in more than two years, because the demand for workers subsided in the retail and wholesale trade industry. Overall the labor market remains tight.
Since the US Federal Reserve raised an interest rate of 75 basis points in July, investors have speculated about whether the biggest increase in the central bank is behind it.
“The market must be very comfortable that they have fully baked in all Fed interest rates, and I think it remains an open question,” said Rob Haworth, a senior investment strategy expert at the US Bank Wealth Management in Seattle. “Challenges and supply constraints are not necessarily done. They haven’t finished and left.”
Shares of U.S. Defense Companies Raytheon Technologies (Nyse: RTX) Corp, Lockheed Martin Corp (Nyse: LMT), Northrop Grumman Corp (Nyse: NOC) and L3Harris Technologies (Nyse: LHX) Inc. 5% and 2.3%. The United States is a major supporter and supplier of Taiwan weapons.
S&P 500 fell 0.66% to end the session at 4,091.32 points.
Nasdaq fell 0.16% to 12,348.76 points, while Dow Jones Industrial Average fell 1.23% to 32,396.30 points.
Volume in U.S. exchange Relatively heavy, with 11.2 billion shares traded, compared to the average 10.8 billion shares during the previous 20 sessions.
The CBOE volatility index, also known as Wall Street’s Fear Gauge, subsided from the highest 24.68 points.
The second quarter reporting season, most of which is optimistic, has supported the recent market, with the S&P 500 benchmark index, up about 12% of the lowest hit in mid-June.
Uber Technologies (Nyse: Uber) Inc. jumped almost 19% after the company rose to report the positive quarterly cash flow for the first time and estimate the optimistic third quarter operating profit.
The most traded shares in the S&P 500 are Tesla (Nasdaq: TSLA) Inc., with shares worth $ 28.7 billion exchanged during the session. The shares rose 1.1% after Citigroup (Nyse: C) climbing the target price on the maker of the electric car.
Pinterest (NYSE: PIN) Inc. jumped more than 11% after investor activist Elliott Investment Management became the largest shareholder of the digital pin-board company.
The declining stock exceeded the amount that rose in the S&P 500 with a ratio of 3.1-to-one.
S&P 500 posted the 2 newest and lowest 30 newest newest; Nasdaq noted the 40 newest new and 73 newest new.