US stocks continued to fall for a second consecutive day on Tuesday, with the Dow Jones industrial average dropping by 352 points on rising US Treasuries and a drop in healthcare stocks. Healthcare related stocks fell after Amazon, Berkshire Hathaway and JPMorgan indicated they were all planning to set up a project to cut health care costs for their employees in the United States.<\/p>\n
The health and health services index fell by 1.6%, the lowest among the 11 major sectors. The United Health Insurance Company dropped 4.3%, the Dow Jones Industrial Average. Shares in Segna fell 6.4 percent, the biggest drop among S&P.<\/p>\n
Long-term US Treasury yields rose through the volatile trading on Tuesday, ahead of various economic events scheduled for this week, such as the Federal Reserve’s monetary policy decision, which could shed more light on this year’s interest rate future. Both traders and markets will follow the Fed’s two-day meeting, waiting for comments that could increase the likelihood of having 4 rate hikes this year, instead of three.<\/p>\n
The Dow Jones industrial average fell by 248.23 points, or 0.94%, to 26.191. Its recent decline of 352 points was the index\u2019s lowest single day decline since May 2017. The S&P 500 index dropped by 20.43 points, or 0.71%, to 2.8000. Of the composite by 42.70 points, or 0.57% to reach 7.423 points.<\/p>\n
While the central bank’s gauge of volatility, the broader measure of investor concerns, rose to 14.69 points, its highest since August. The SPNY index dropped 1.54% after US crude oil prices fell by 2%, which proves the rise in US oil production.<\/p>\n
In terms of corporate earnings, Pfizer fell 3% after by rising 2% in the previous sessions. This comes right after the company’s quarterly results, and full-year outlook which exceeded analysts’ expectations. Harley-Davidson also fell by 7.7%, after the company\u2019s forecasts to drop shipments this year. MetLife also fell 8.7%, after the US financial regulator said it was looking into the failure of the insurance company to pay some workers’ pensions.<\/p>\n
Apple fell 0.6% on news that the company will cut production from the new smartphone iPhone X.<\/p>\n
Falling stocks on the New York Stock Exchange outnumbered winning stocks by 2.260 to 618, and on Nasdaq by 1,954 to 866.<\/p>\n
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