Dow Tumbles Over 200 Points; US Trade Gap Narrows In November

U.S. stocks traded lower this morning, with the Dow Jones falling more than 200 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.63% to 37,445.51 while the NASDAQ fell 0.66% to 14,745.96. The S&P 500 also fell, dropping, 0.55% to 4,737.17.

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Leading and Lagging Sectors

Health care shares rose by just 0.01% on Tuesday.

In trading on Tuesday, real estate shares fell by 1.2%.

Top Headline

The US trade gap shrank to $63.2 billion in November from $64.5 billion in the previous month and compared to market estimates of a $65 billion gap.

Equities Trading UP

Sentage Holdings Inc. SNTG shares shot up 108% to $4.42.

Shares of Galera Therapeutics, Inc. GRTX got a boost, surging 27% to $0.1891.

Seres Therapeutics, Inc. MCRB shares were also up, gaining 18% to $1.8465 after the company announced preliminary key VOWST launch metrics and FDA Fast Track Designation for SER-155.

Equities Trading DOWN

Grifols, S.A. GRFS shares dropped 33% to $7.41 following a report from Gotham City Research titled "Grifols SA: Scranton and the Undisclosed Debts."

Shares of eFFECTOR Therapeutics, Inc. EFTR were down 23% to $0.4261 after the company announced a 1-for-25 reverse stock split.

Bit Brother Limited BETS was down, falling 12% to $0.0057 after dipping 15% on Monday. Bit Brother announced a 1-for-1,000 reverse share split.

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Commodities

In commodity news, oil traded up 1.8% to $72.05 while gold traded up 0.6% at $2,046.10.

Silver traded up 0.4% to $23.41 on Tuesday while copper fell 0.4% to $3.7960.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.5%, London’s FTSE 100 fell 0.1% while Spain’s IBEX 35 Index fell 2% The German DAX fell 0.5% French CAC 40 fell 0.6% while Italy’s FTSE MIB Index fell 0.7%.

Industrial production in Germany fell 0.7% month-over-month in November versus a revised 0.3% decline in October. Retail sales in the UK increased 1.9% from a year ago in December.

Italy's unemployment rate fell to 7.5% in November versus a revised 7.7% in the previous month. French current account deficit shrank to EUR 2.8 billion in November 2023 versus a revised EUR 3.4 billion in the prior month, while trade deficit narrowed to €5.9 billion in November versus a revised €8.5 billion in the prior month.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 1.16%, Hong Kong’s Hang Seng Index falling 0.21% and China’s Shanghai Composite Index gaining 0.20%. India’s S&P BSE Sensex, meanwhile, rose 0.04%.

Household spending in Japan fell by 2.9% year-over-year in November following a 2.5% decline in the earlier month.

Economics

The NFIB Small Business Optimism Index rose to 91.9 in December from 90.6 in November.

The US trade gap shrank to $63.2 billion in November from $64.5 billion in the previous month and compared to market estimates of a $65 billion gap.

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