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10-Oct2018

US markets end mostly in red on Tuesday

The US markets, extending the volatile performance seen in the previous session, ended mostly in red on Tuesday, as traders kept an eye on treasuries amid renewed concerns about the outlook for interest rates. Traders largely shrugged off news the International Monetary Fund lowered its forecast for U.S. and Chinese economic growth. Citing the negative effect of recent tariff actions, the IMF said economic growth in the U.S. and China is now expected to slow to 2.5 percent and 6.2 percent, respectively, next year. Overall trading activity was somewhat subdued, as a lack of major U.S. economic data kept some traders on the sidelines following the holiday on Monday. In the coming days, traders are likely to keep a close eye on reports on producer and consumer prices as well as comments by several Federal Reserve officials.

S&P 500 slipped 4.09 points or 0.14 percent to 2880.34 and Dow Jones Industrial Average was down by 56.21 points or 0.21 percent to 26430.57. However, Nasdaq was up by 2.07 points or 0.03 percent to 7738.02.


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