News

US stock indices tumbled on Tuesday, as investors expressed renewed scepticism regarding the high valuations of technology firms, following warnings from the chief executives of top Wall Street banks who forecast a potential market sell-off.

The latest sales forecast from AI favourite Palantir also failed to impress the market.

At the open, the Dow Jones Industrial Average fell 188.6 points, or 0.40%, to 47,148.04. The S&P 500 lost 63.4 points, or 0.93%, to 6,788.52, while the Nasdaq Composite dropped 376.5 points, or 1.58%, to 2,3458.211.

Gold prices pared earlier losses on Tuesday, finding support from a halt in the US dollar's rally and a dip in Treasury yields.

Spot gold was last down 0.2% at $3,994.47 an ounce by 1210 GMT, after having declined by as much as 0.9% earlier in the session. US December gold futures also slipped 0.2% to $4,004.70 an ounce.

In other metals, spot silver fell 0.6% to trade at $47.80 an ounce, platinum dipped 0.5% to $1,558.25, and palladium declined 2.8% to $1,405.

Crude oil prices experienced significant declines on Tuesday due to a confluence of bearish factors such as the OPEC+ production decision to pause output hikes in the first quarter of next year, weak global manufacturing data, and a strengthening US dollar.

Brent crude futures fell 81 cents, or 1.25%, to $64.08 a barrel by 1310 GMT. US West Texas Intermediate crude was down 84 cents, or 1.38%, at $60.21.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Download the Mint app and read premium stories

Log in to our website to save your bookmarks. It'll just take a moment.