US indices close lower, Nasdaq declines by over 300 pts

US stocks declined due to selling pressure in the technology sector and the kickoff of the Federal Reserve's two-day monetary policy meeting, set to conclude on March 19.

By the end of Tuesday's trading session, the Dow Jones Industrial Average fell 0.6%, losing 260 points to close at 41,581 points.

The S&P 500 dropped more than 1%, losing 60 points to close at 5,614 points, while the Nasdaq Composite fell 1.7%, or 304 points, ending at 17,504 points.

The Stoxx Europe 600 index rose 0.6% to 554.3 points.

The UK's FTSE 100 gained 0.3%, closing at 8,705 points, while France's CAC 40 rose 0.5% to 8,114 points. Meanwhile, Germany's DAX added 1%, ending the session at 23,380 points.

In Japan, the Nikkei 225 climbed 1.2% to 37,845 points, while the broader Topix index gained 1.3%, reaching 2,783 points.

In the oil market, Brent crude futures for May delivery fell 0.7%, or 51 cents, to $70.56 per barrel.

Futures for US WTI crude (Nymex) April delivery declined 1%, or 68 cents, to $66.90 per barrel.

Gold futures for April delivery saw a rise of 1.15%, corresponding to $34.70, reaching $3,040.80 per ounce, marking a record high for the fourth consecutive session.