Global stocks: S&P 500, Dow Jones fell over 0.6% on weak US economic data

All three major US indices declined more than 0.6%. The S&P 500 closed down 0.68% at 4,096.36. The Dow Jones Industrial Average closed down 0.71% at 33,362.62. The Nasdaq Composite closed down 0.64% at 12,111.43.

The news of job openings and manufacturing orders released on Tuesday has raised fears of a recession. Weak economic data has also raised bets for slower interest rate hikes.

A report from the Labor Department showed that US job openings fell to 9.9 million in February, the lowest in nearly two years.

A separate report showed that factory orders weakened in February.

• The yield on the 2-year Treasury fell 14 basis points to 3.8%. The yield on the 10-year Treasury declined 8 basis points to 3.33%.

Canada

Canadian shares were marginally lower on Tuesday, ending seven straight days of gains. The Toronto Stock Exchange’s S&P/TSX Composite Index closed down 2.52 points at 20,275.76.

european stock

European shares pared early gains to close mixed on Tuesday, as investors weighed the potential impact of rising oil prices on monetary policies.

The pan-European index STOXX 600 declined 0.08%, with early gains in energy shares.

Shell, BP, Tenaris and Total Energy lost between 1% and 2.5%.

Britain’s FTSE 100 fell 0.5% to close at 7,634.52.

France’s CAC 40 closed flat.

Germany’s DAX was up 0.1% at 15,603.47.

European shares rose in early session on signs of easing inflation concerns.

An OECD report said that inflation in major economies fell from 9.2% in January to 8.8% in February. While inflation remained above 20% in Hungary, Latvia and Türkiye. But overall, inflation fell in 23 of the 38 OECD economies.

asian stock

Asian shares were mixed on Tuesday as inflation fears weighed on investor sentiment.

Hong Kong’s Hang Seng index closed down 0.7% at 20,274.59. In China, the Shanghai Composite index rose 0.5% to 3,312.56.

Japan’s Nikkei 225 closed at 28,287.42, up 0.4%.

South Korea’s benchmark Kospi rose 0.33% to close at 2,480.51.

Australia’s S&P/ASX 200 rose 0.2% to 7,236.00 after Australia’s central bank kept its key interest rate unchanged.

bullion

Gold crossed the $2,000 mark on Tuesday due to a fall in the US dollar and yields.

Spot gold rose 1.8% to $2,020.42 an ounce.

US gold futures closed up 1.9% at $2,038.20. Silver for delivery in May rose $1.08 to $25.10 an ounce.

oil prices

Crude oil prices were near flat levels after Monday’s rally.

Brent crude closed at $ 84.94 per barrel, up 1 percent. US crude rose 29 cents to $80.71.