Dow Tumbles Over 250 Points; NY Empire State Manufacturing Index Falls In September

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 250 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.55% to 52,135.49 while the NASDAQ declined 0.32% to 26,101.58. The S&P 500 also fell, dropping, 0.24% to 7,601.85.

Leading and Lagging Sectors

Energy shares jumped by 0.9% on Tuesday.

In trading on Tuesday, real estate stocks fell by 1%.

Top Headline

The New York Fed’s Empire State Manufacturing Index declined 13 points to a reading of 7.6 in September compared to 20.6 in August, and also missing market estimates of 14.75.

Equities Trading UP
           

• Veea Inc (NASDAQ:VEEA) shares shot up 113% to $4.88 after the company announced it signed a term sheet to combine with NovaGen Group.
• Shares of My Size Inc (NASDAQ:MYSZ) got a boost, surging 47% to $2.44 after the company announced an acquisition-led strategy focused on building a defense technology platform.
• SU Group Holdings Ltd (NASDAQ:SUGP) shares were also up, gaining 60% to $1.14 after the company announced it was awarded an exclusive distributorship of TRACELINE PX3 Portable X-Ray System by HDX. The company’s subsidiary will acquire 100% of the equity interest in KM Safety Solution.

Equities Trading DOWN

• Huachen AI Parking Mgmt Tech Hldg Co Ltd (NASDAQ:HCAI) shares dropped 65% to $0.65 after the company announced the pricing of $2.75 million registered direct offering.
• Shares of Cheetah Net Supply Chain Service Inc (NASDAQ:CTNT) were down 46% to $0.082 after the company announced it has entered into a Membership Interest Purchase Agreement to acquire 100% of the membership interests of JoyPak Supply.
• Intercont (Cayman) Ltd (NASDAQ:NCT) was down, falling 37% to $0.31 after the company announced a 1-for-25 reverse share split.

Commodities

In commodity news, oil traded up 0.1% to $101.48 while gold traded down 0.5% at $4,331.30.

Silver traded up 0.3% to $64.335 on Tuesday, while copper rose 0.6% to $6.4425.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 slipped 0.1%, while Spain’s IBEX 35 Index rose 0.4%, London’s FTSE 100 fell 0.2%, Germany’s DAX gained 0.1%, while France’s CAC 40 slipped 0.1%.

Asia Pacific Markets

Asian markets closed lower on Tuesday, with Japan’s Nikkei 225 falling 0.01%, Hong Kong’s Hang Seng index dipping 1%, China’s Shanghai Composite falling 0.54% and India’s BSE Sensex tumbling 1.04%.

Economics

The New York Fed’s Empire State Manufacturing Index declined 13 points to a reading of 7.6 in September compared to 20.6 in August, and also missing market estimates of 14.75.

Photo via Shutterstock