Global markets moved lower on Tuesday, extending Monday’s losses. The technology sector led the decline, with major indices falling in early trading. Investors reacted to ongoing concerns about valuation and interest rate uncertainty.
SpaceX shares dropped another 3% in premarket trading. The private space company has faced pressure after a recent mission setback and a critical analyst report. The stock has now lost over 8% in the past two sessions.
The Nasdaq Composite fell sharply, dragged down by major tech names. Apple, Microsoft, and Nvidia all posted losses of more than 2% in the opening hour. The broader S&P 500 also declined, though at a slower pace than its tech-heavy counterpart.
Bond yields edged higher as traders adjusted their expectations for future rate cuts. The 10-year Treasury yield rose to 4.32%, adding pressure on growth stocks. Higher yields typically reduce the appeal of long-duration assets like technology shares.
The Dow Jones Industrial Average slipped 150 points, limiting the broader market’s losses. Defensive sectors such as utilities and healthcare held up better. Energy stocks also gained slightly, supported by a modest uptick in crude oil prices.
Investors now look ahead to key economic data later this week. Reports on durable goods orders and consumer sentiment are expected to provide clues on the economy’s health. Any signs of slowing growth could further fuel volatility in the stock market.
Global markets mirrored the U.S. downturn. Japan’s Nikkei 225 fell 1.4%, while European indexes like the Stoxx 600 dropped 0.8%. The weakness reflected a broad risk-off sentiment across major financial hubs.
