U.S. stocks traded lower midway through trading, with the Nasdaq dropping over 100 points on Tuesday. All the three major indices recorded their third weekly loss in a row, with the Dow dropping around 3%, and the S&P 500 down around 3.3%.

The Dow traded down 0.62% to 31,122.76 while the NASDAQ fell 0.92% to 11,523.57. The S&P 500 also fell, dropping, 0.58% to 3,901.65.

Also check this: US Stocks Record Third Consecutive Weekly Loss But Market Volatility Decreases

Leading and Lagging Sectors

In trading on Tuesday, energy shares fell by 1%.

Top Headline

The ISM services index climbed to 56.9 in August from previous reading of 56.7.

Equities Trading UP

Equities Trading DOWN

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Commodities

In commodity news, oil traded up 0.1% to $86.88, while gold traded down 0.5% at $1,713.70.

Silver traded up 0.6% to $17.99 on Tuesday while copper rose 1.2% to $3.4540.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.4%, London’s FTSE 100 rose 0.32%, while Spain’s IBEX 35 Index rose 0.05%. The German DAX climbed 1.01%, French CAC 40 rose 0.36% and Italy’s FTSE MIB Index rose 0.17%.

The S&P Global Eurozone construction PMI dropped to 44.2 in August from 45.7 in the prior month. The S&P Global German construction PMI dropped to 42.6 in August from 43.7 in the previous month, while factory orders in the country dropped 1.1% month-over-month in July.

French construction PMI slipped to 48.2 in August from 48.6 a month ago. Retail sales in the UK rose by 0.5% on a like-for-like basis during August from a year earlier, compared to a 1.6% increase in July.

Economics

• The S&P Global US services PMI was revised lower to 43.7 in August compared to a preliminary level of 44.1, and also down from 47.3 a month ago.
• The ISM services index climbed to 56.9 in August from previous reading of 56.7.
• The Treasury will auction 52-week bills at 1:00 p.m. ET.

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 96,643,170 cases with around 1,072,970 deaths. India confirmed a total of at least 44,466,860 cases and 528,030 deaths, while France reported over 34,596,180 COVID-19 cases with 154,270 deaths. In total, there were at least 610,904,220 cases of COVID-19 worldwide with more than 6,505,480 deaths.