The Dow Jones Index records its largest daily loss in a week
US indices closed with collective losses in Tuesday's session under pressure from rising Treasury bond yields and oil prices, as investors evaluated the prospects for the interest rate path.
US Treasury bond yields rose after economic data showed flexibility, and a Federal Reserve official said it indicated that the bank does not need to change rates anytime soon.
High oil prices are also considered an obstacle to the Fed's efforts to return inflation to the 2% target.
Performance of major US indices:
The Dow Jones Index fell by 0.56%, or 196 points, on Tuesday, recording the highest daily loss in a week.
The S&P 500 index also fell by 0.4%, losing levels of 4,500 points at closing, and the Nasdaq Composite Index fell by about 0.1%, recording the second daily loss in a row.
The energy index reflected the downward trend of other major sectors, reaching its highest level in 7 months after Saudi Arabia and Russia announced a new extension of voluntary supply cuts.
Chevron shares closed up 1.3%, reaching their highest levels in more than 4 months.
Airbnb shares
Airbnb's stock rose 7.2% in Tuesday's session, recording its largest daily gain in 6 months, as the company added more than $6 billion to its market value in one day.
These gains came after Airbnb stock joined the S&P 500 index alongside Blackstone stock.
Oracle shares:
Oracle's stock rose 2.5% in Tuesday's session to its highest levels since June 15, with the company adding $8.3 billion to its market value in one day.
These gains came after Barclays Bank upgraded the software company's stock to overweight from equal weight.
