US stocks markets witnessed a significant decline at the end of trading on Tuesday, with major indices generally declining. Many sectors, such as basic materials, public institutions, and oil and natural gas, were significantly affected, contributing to the overall decline in the markets. The market continued to be affected by global and local economic factors that affected stock performance.
At the close of trading sessions in New York, the Dow Jones Industrial Average recorded a decline of 0.35%, reflecting a decline of 119.90 points, closing at 34,288.15 points. The Standard & Poor’s 500 index also fell by 0.30%, recording a decline of 12.29 points, reaching 4,464.39 points. As for the Nasdaq index, it fell by 0.24%, achieving a decline of 33.65 points, ending the session at 13,742.57 points.
The decline comes at a sensitive time, as many sectors that have seen significant declines in equity markets are dealing with challenges related to global economic conditions. In this context, sectors related to basic resources, such as oil and gas, were a major source of pressure on major indices. Also, rising energy prices.
Despite the general decline in the market, some leading stocks saw notable gains in performance. For example, Boeing Co (NYSE:BA) gained 4.50%, or 7.06 points, to close at $164.10. American Express (NYSE:AXP) continued to rise by 1.82%, or 5.39 points, to reach $302.11 at the close. On the other hand, Honeywell International Inc (NASDAQ:HON) rose 1.77%, achieving an increase of 3.99 points, to close at $229.08.
These increases indicate the strength of performance in some companies that have managed to maintain their stability amidst the volatility in the markets. Investors continue to follow global economic developments carefully, as stock performance has been affected by investors’ expectations regarding economic growth and fears of inflation.
Decline in US stock indices and weaker performance in some major companies
US stock markets were down at the end of trading on Tuesday, with major indices closing in the red. In this context, some companies were distinguished by their significant declines in their shares, which contributed to the pressure on the market as a whole.
Caterpillar Inc. (NYSE:CAT) shares closed down 2.72%, falling 10.87 points to $388.39. NVIDIA Group (NASDAQ: NVDA) shares also fell 2.69%, losing 3.74 points to close at $135.07. Meanwhile, Merck & Co. (NYSE: MRK) shares fell 2.69%, or 2.79 points, to close at $101.00.
Despite these declines, some stocks were able to maintain their positive performance. Walgreens Boots Alliance Inc (NASDAQ: WBA) was the top performer on the S&P 500, rising 17.74% to close at $10.42. Alphabet Class A (NASDAQ: GOOGL) added 5.59% to $185.17, while Alphabet (Google) (NASDAQ: GOOG) added 5.32% to close at $186.53. Elsewhere, some large companies were hit by notable losses in the stock market, with biotech company Moderna (NASDAQ: MRNA) falling sharply, 9.07% to close at $41.51. Super Micro Computer (NASDAQ: SMCI) lost 8.20% to close at $40.54, while Oracle Corporation (NYSE: ORCL) lost 6.67% to close at $177.74.
These shifts in performance among the various companies in the US market show the effects of the economic and financial conditions that investors are facing at the moment. While some large companies are holding steady or making significant gains, others are under pressure due to economic challenges and market volatility.
The 500 Volatility Index, which measures the implied volatility of S&P 500 options, traded down 0.07% to close at 14.18. Gold futures for February delivery rose 1.28%, or 34.46, to close at $2,720.26 per ounce.
Sharp Rise and Fall in US Stocks Markets: Full Analysis
The US stock market ended the day with extreme volatility, with some stocks seeing sharp declines, while others made exceptional gains. On the Nasdaq, several stocks recorded unprecedented increases, with notable changes in their performance.
The best performer on the Nasdaq:
Among the most notable stocks that recorded exceptional performance on the Nasdaq was JLong Group Ltd (NASDAQ: JL), which rose an astonishing 888.63% to close at $3.13. This massive increase makes the stock one of the strongest performers on the US markets for the day. Also, Chimerix Inc (NASDAQ: CMRX) recorded a strong increase of 219.08% to close at $2.76, achieving a significant increase in its value. In addition, Uniqure NV (NASDAQ: QURE) recorded a rise of 109.73% to reach a price of $15.30, reflecting a strong performance amidst the volatility in the market. Weakest performers in the market:
On the other hand, some companies saw a sharp decline in the stock market. (NASDAQ: CRVO) recorded the biggest decline today, losing about 78.93% of its value, closing at $2.16, making it an all-time low. Biora Therapeutics Inc (NASDAQ: BIOR) also recorded a decline of 58.54%, reaching $0.56, also hitting a record low. In the same context, Mederum Healthcare Technologies fell by 42.86% to close at $1.60, its lowest level ever.
Trading on the New York Stock Exchange and Nasdaq:
The New York Stock Exchange witnessed the decliners outperforming the stocks, as 1,767 stocks closed lower, compared to 1,029 advancers, while 87 stocks remained unchanged. On the Nasdaq, 1,896 stocks declined, 1,410 advanced, and 127 stocks remained unchanged.
Stocks that hit new record highs:
Among the US stocks that hit new record highs, CervoMed Inc (NASDAQ: CRVO) hit an all-time low, losing 78.93% of its value. In contrast, Chimerix Inc (NASDAQ: CMRX) hit a 52-week high
