Dow Dips Over 200 Points; US Industrial Production Increases More than Expected

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

Following the market opening Tuesday, the Dow traded down 0.56% to 41,608.14 while the NASDAQ dipped 1.49% to 17,542.81. The S&P 500 also fell, dropping, 0.92% to 5,622.68.

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Leading and Lagging Sectors

Energy shares jumped by 0.5% on Tuesday.

In trading on Tuesday, consumer discretionary shares fell by 2%.

Top Headline

U.S. industrial production increased by 0.7% in February, surpassing market estimates of 0.2%.

Equities Trading UP
                       

  • Aditxt, Inc. ADTX shares shot up 57% to $6.88 after the company announced it submitted an application for four new federal funding opportunities.
  • Shares of Syros Pharmaceuticals, Inc. SYRSgot a boost, surging 57% to $0.1351. Syros Pharmaceuticals recently announced a voluntary delisting from the Nasdaq and SEC deregistration.
  • Heidmar Maritime Holdings Corp. HMR shares were also up, gaining 38% to $3.75.

Equities Trading DOWN

  • Avenue Therapeutics, Inc. ATXI shares dropped 46% to $0.4785.
  • Shares of AirNet Technology Inc. ANTE were down 44% to $0.9017. AirNet Technology recently announced the execution of a non-binding investment LOI with LLP STH Corp, a Kazakstan company.
  • AGM Group Holdings Inc. AGMH was down, falling 37% to $0.0669.

Commodities

In commodity news, oil traded up 0.5% to $67.94 while gold traded up 1.2% at $3,041.60.

Silver traded up 1.6% to $34.840 on Tuesday, while copper rose 0.7% to $4.9920.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.46%, Germany's DAX 40 jumped 0.63% and France's CAC 40 gained 0.43%. Spain's IBEX 35 Index rose 1.10%, while London's FTSE 100 rose 0.32%.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan's Nikkei gaining 1.20%, China's Shanghai Composite Index gaining 0.11%, Hong Kong's Hang Seng Index surging 2.46% and India's BSE Sensex gaining 1.53%.

Economics

  • U.S. housing starts surged 11.2% month-over-month to an annualized rate of 1.501 million in February following a revised 1.35 million in January.
  • Building permits declined by 1.2% to an annualized rate of 1.456 million in February.
  • U.S. import prices increased by 0.4% in February, versus market estimates of a 0.1% decline.
  • U.S. export prices rose by 0.1% month-over-month in February.
  • U.S. industrial production increased by 0.7% in February, surpassing market estimates of 0.2%.

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