Dow Tumbles 450 Points; US Small Business Sentiment Declines In August

U.S. stocks traded lower this morning, with the Dow Jones index falling around 450 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.84% to 52,963.03 while the NASDAQ dipped 0.17% to 26,461.84. The S&P 500 also fell, dropping, 0.21% to 7,702.01.

Leading and Lagging Sectors

Energy shares jumped by 1.4% on Tuesday.

In trading on Tuesday, health care stocks fell by 2.2%.

Top Headline

The US NFIB Small Business Optimism Index declined to 98.7 in August from 99.8 in the previous month and also missing market estimates of 99.3.

Equities Trading UP
           

• PDS Biotechnology Corp (NASDAQ:PDSB) shares shot up 178% to $0.61 after the company announced it raised up to $22.55 million in equity funding in a Private Investment in Public Equity transaction.
• Shares of CEA Industries Inc (NASDAQ:BNC) got a boost, surging 44% to $5.01.
• Wing Yip Food Holdings Group (NASDAQ:WYHG) shares were also up, gaining 29% to $5.25.

Equities Trading DOWN

• Focus Universal Inc (NASDAQ:FCUV) shares dropped 59% to $6.99.
• Shares of bioAffinity Technologies Inc (NASDAQ:BIAF) were down 39% to $9.30.
• Lexaria Bioscience Corp (NASDAQ:LEXX) was down, falling 35% to $9.26 after the company announced a warrant inducement repricing of 453,969 warrants to $12.92 per share from the original prices of $17.85 to $45.90.

Commodities

In commodity news, oil traded up 1.1% to $92.46 while gold traded down 0.6% at $4,449.50.

Silver traded up 0.7% to $67.20 on Tuesday, while copper rose 2.5% to $6.8515.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.1%, while Spain’s IBEX 35 Index fell 0.3%, London’s FTSE 100 rose 0.1%, Germany’s DAX gained 0.1%, while France’s CAC 40 gained 0.1%.

Asia Pacific Markets

Asian markets closed mostly lower on Tuesday, with Japan’s Nikkei 225 dipping 1.70%, Hong Kong’s Hang Seng index falling 0.38%, China’s Shanghai Composite gaining 0.20% and India’s BSE Sensex dipping 0.73%.

Economics

• The Manheim Used Vehicle Value Index declined 0.9% month-over-month in August, recording a second straight monthly decline.
• The US NFIB Small Business Optimism Index declined to 98.7 in August from 99.8 in the previous month and also missing market estimates of 99.3.

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