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US stock indexes slid on Tuesday, April 5, as investors concerns grew that the Fed may take more corrective measures to thwart inflation. However, Twitter shares continue to surge as Tesla CEO Elon Musk is set to join its board after becoming its highest shareholder.
The S&P 500 fell 1.26% to 4525.12. The Dow Jones dropped 0.80% to 34641.18. The NASDAQ Composite was down 2.26% to 14204.17, and the small-cap Russell 2000 dipped 2.36% to 2046.04.
A Fed official said that the central bank would take necessary steps to pull the plugs on inflation this year and is likely to announce a major reduction in its US$9 trillion asset portfolio in May.
Investors were also weighing the repercussion of a fresh round of sanctions against Russia. The brutality of Russia on Ukrainian civilians has further irked western governments calling for fresh sanctions against the country.
How the segments performed
On Tuesday, utilities, healthcare, and real estate were the top movers on the S&P 500 index. Consumer non-cyclicals, financials, industrials, energy, technology, and consumer cyclicals were the bottom movers. Three out of 10 segments of the index closed in the green.
In the utility sector, NextEra Energy, Inc. (NEE) rose 0.83%, Duke Energy Corporation (DUK) gained o.65%, and The Southern Company (SO) gained 1.68%.
In the healthcare sector, UnitedHealth Group Inc. (UNH) gained 1.52%, Johnson & Johnson (JNJ) rose 0.65%, and Pfizer Inc. (PFE) rallied 0.59%.
In real estate stocks, Prologis, Inc. (PLD) gained 1.53%, American Tower Corporation (AMT) rose 1.97%, and Crown Castle International Corp. (CCI) was up by 2.13%.
In technology, Apple Inc. (AAPL) fell 1.89%, Microsoft Corporation (MSFT) fell 1.30%, and NVIDIA Corporation (NVDA) closed 5.22% down. Twitter Inc (TWTR) stock was up 2% in intraday trading.
In energy stocks, Exxon Mobil Corporation (XOM) fell 0.52%, Chevron Corporation (CVX) was down 0.61%, and Shell plc (SHEL) retreated 1.36%.
The cryptocurrency market was down 1.15% to US$2.12 trillion at around 4:30 pm ET on Tuesday. Bitcoin (BTC) is down 1.41% to US$45,849.91 in the last 24 hours.
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Futures & Commodities
Gold futures were down 0.62% to US$1,922.00 per ounce. Silver declined 0.57% to US$24.450 per ounce, while copper fell 0.35% to US$4.7650.
Brent oil futures fell 0.37% to US$105.53 per barrel and WTI crude declined 2.02% to US$101.19 a barrel.
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Bond Market
The 30-year Treasury bond yields fell 4.38% to 2.528, while the 10-year bond yields rose 5.90% to 2.554.
US Dollar Index Futures were up 0.49% to US$99.455.
