A massive sell-off sent Wall Street tumbling on Tuesday, amid bleak consumer confidence data and fears of a possible US recession.
According to Arabiya Net, the three major indices of US stocks closed sharply lower, with the technology-weighted Nasdaq index leading the losers.
The shares of Apple, Microsoft, and Amazon.com suffered heavy losses.
With two days before the end of the month and the end of the second quarter, the benchmark Standard & Poor's 500 index is on track for its biggest drop in percentage terms for the first half of the year since 1970.< /p>
All three indices are heading for second consecutive quarterly declines for the first time since 2015.
Data showed that the Conference Board's index of US consumer confidence fell to its lowest level since February 2021, with short-term expectations reaching their most pessimistic level in nearly 10 years. .
According to preliminary data, the Standard & Poor's 500 closed down 78.02 points, or 2%, to 3,822.09 points, while the Nasdaq Composite Index fell 343.06 points, or 2.98%, to close at 11,181.50 points.
The Dow Jones Industrial Average ended the trading session down 490.78 points, or 1.56%, to 30,947.48 points.
