The morning painted a bleak picture for U.S. stocks, with the Dow Jones plummeting over 200 points on Tuesday.
As the market opened, the Dow dropped 0.63% to 37,445.51, while the NASDAQ fell 0.66% to 14,745.96. The S&P 500 mirrored the downward trend, sliding 0.55% to 4,737.17.
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Health Sector Shows Resilience
Amidst the sea of red, the health care shares managed to eke out a nominal gain of 0.01% on Tuesday.
US Trade Gap Narrows in November
In a ray of hope, the US trade gap shrank to $63.2 billion in November from $64.5 billion in the previous month, surpassing market estimates of a $65 billion gap.
Winners and Losers on the Stock Exchange
Rising above the mayhem, Sentage Holdings Inc. SNTG shares skyrocketed 108% to $4.42.
Grifols, S.A. GRFS shares, however, tumbled 33% to $7.41 following a report from Gotham City Research titled “Grifols SA: Scranton and the Undisclosed Debts.”
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Commodity Market Trends
In the realm of commodities, oil surged 1.8% to $72.05, while gold gained 0.6% at $2,046.10.
Silver also made modest gains, trading up 0.4% to $23.41 on Tuesday, while copper saw a 0.4% decline, settling at $3.7960.
Global Economic Landscape
European shares faced a downturn, with the eurozone’s STOXX 600 falling 0.5%, London’s FTSE 100 dropping 0.1%, and Spain’s IBEX 35 Index plunging 2%. The German DAX, French CAC 40, and Italy’s FTSE MIB Index followed suit with declines of their own.
Turning eastward, Asian markets exhibited a mixed bag as Japan’s Nikkei 225 gained 1.16%, Hong Kong’s Hang Seng Index fell 0.21%, and China’s Shanghai Composite Index saw a 0.20% uptick. India’s S&P BSE Sensex rose 0.04%.
Small Business Optimism on the Rise
The NFIB Small Business Optimism Index climbed to 91.9 in December from 90.6 in November, suggesting a glimmer of hope amidst the market turmoil.
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