Most US markets decline; Dow Jones sheds over 400 pts

Most US stock indices declined at the close of trading on Tuesday, amid investor concerns over the impact of trade disruptions on corporate quarterly earnings, as well as accelerating inflation.

The Dow Jones Industrial Average fell by 0.98%, or 436 points, to 44,023 points at the close of Tuesday's session.

The S&P 500, the broader market index, dropped 0.40%, or 24 points, to 6,243 points, while the Nasdaq Composite rose 0.18%, or 37 points, to 20,677 points.

The Nasdaq was supported by a 4% gain in Nvidia shares, which closed at $170.70, after Washington confirmed it would ease licensing requirements for the company to export its H20 chips to China.

The Stoxx Europe 600 index declined 0.35% to 544.95 points, despite a 0.80% rise in technology stocks.

Germany’s DAX slipped 0.40% to 24,060 points, France’s CAC 40 dropped 0.55% to 7,766 points, and the UK’s FTSE 100 fell 0.65% to 8,938 points, after surpassing the 9,000-point mark for the first time ever.

Japan’s Nikkei 225 rose 0.55% to 39,678 points, while the broader Topix index edged up 0.10% to 2,825 points.

Brent crude futures for September delivery fell by 0.72%, or 50 cents, to settle at $68.71 per barrel.

US WTI crude futures for August delivery dropped 0.69%, or 46 cents, to $66.52 per barrel.

August futures for the yellow metal declined 0.70%, or $22.4, to settle at $3,336.70 per ounce.

US President Donald Trump announced today the signing of a preliminary trade agreement with Indonesia, setting import tariffs on Indonesian goods at 19%, in exchange for the exemption of US exports from tariffs.

Official data showed that the annual US consumer inflation rate accelerated to 2.7% in the June reading, in line with expectations, up from 2.4% in May.