NEW YORK (dpa-AFX) – After initial price gains, the US stock exchanges came under a lot of pressure on Tuesday. Traders justified the losses with renewed fears of a recession. In particular, the technology stocks, which are considered to be high-growth, went downhill noticeably. After the starting bell, the leading index Dow Jones (Dow Jones 30 Industrial) had risen to its highest level for two and a half weeks, but then stock sales began. The Dow closed down 1.56 percent to 30,946.99 points.
Data on US consumer confidence was released shortly after the start of trading. Their mood clouded over more than expected in June and was as depressed as it had been at the beginning of 2021. Consumer spending is by far the most important pillar of the entire economy in the USA. As a result, prices fell steadily, first and foremost on the Nasdaq stock market, which is dominated by technology stocks. The NASDAQ 100 slipped 3.09 percent to 11,637.77 points. The market-wide S&P 500 lost 2.01 percent to 3821.55 points
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