US Stocks Slide Ahead of Crucial CPI Report
US markets closed mostly lower on Tuesday, with stocks slipping as investors await Wednesday's US CPI report.
The session was marked by fading optimism surrounding a potential US-Iran agreement and continued uncertainty around the Strait of Hormuz. Technology shares were among the notable laggards, contributing to declines in both the NASDAQ and S&P 500.
The Dow industrial average fell -184.02 points or -0.34% to 53,797.39, while the S&P 500 dropped -24.94 points or -0.32% to 7,728.18. The Russell 2000 bucked the trend, rising +9.73 points or +0.32% to 3,027.13.
Some technology and growth shares saw significant declines, including On Holding (-20.29%), AppLovin (-6.01%), Datadog (-5.37%), and Alphabet (-3.84%). However, AI infrastructure, data-center, and industrial names continued to attract interest, with gains in ASML (+4.34%) and Arista Networks (+2.45%).
The US dollar was relatively subdued against major currencies, changing only modestly.