US equity Indices slumped on Tuesday as traders await inflation data that could add to fears of higher interest rates pushing the economy into a recession. S&P 500 and Nasdaq 100 futures were in the green this week, but European contracts dipped. The S&P 500 Index pushed lower in the afternoon to close down 0.9%, clocking its third straight session of losses. Energy shares led declines as crude prices slid below $100 a barrel, but all 11 S&P sectors finished in the red. The tech-heavy Nasdaq 100 lost 1%, while the Dow Jones Industrial Average slid 0.6%. Steadier Covid trends in Shanghai and the possibility of looser Hong Kong quarantine rules may have aided Asian sentiment.

Treasuries were steady and a key part of the yield curve remains inverted, a potential signal of recession ahead. The 10-year yield at one point on Tuesday was 12.4 basis points below the two-year rate, a level unseen since 2007.

Oil stabilised at about $95 a barrel after a tumble. The Dollar hovered near the highest levels since March 2020. The Euro remained in sight of parity with the greenback. Bitcoin slipped towards $19,000.

American Airlines Group Inc. shares soared as the carrier stuck with its expectation for a jump in second quarter sales. Other airlines surged on the prospect of lower fuel costs if slowing global growth keeps cooling oil prices.

Traders are also anxious about the latest corporate earnings and monitoring for a brewing energy crisis in Europe if Russia cuts off gas supplies in the fall-out from its invasion of Ukraine.

Some of the main moves in markets:


  • S&P 500 futures rose 0.10% of 7.03 am in London. The S&P 500 fell 0.90%
  • Nasdaq 100 futures added 0.20%. The Nasdaq 100 fell 1.00%
  • Japan’s Topix Index rose 0.30%
  • South Korea’s Kospi Index rose 0.50%
  • Australia’s S&P/ASX 200 Index rose 0.20%
  • China’s Shanghai Composite Index climbed 0.10%
  • Hong Kong’s Hang Seng Index was steady
  • Euro Stoxx 50 futures lost 0.50%


  • The Bloomberg Dollar Spot Index fell 0.10%
  • The Euro was at $1.0039


  • The yield on 10-year Treasuries was at 2.97%
  • Australia’s 10-year bond yield fell three basis points to 3.38%


  • West Texas Intermediate Crude fell 0.30% to $95.60 a barrel
  • Gold was at $1,725.45 an ounce


  • S&P 500 Index down 0.90%
  • Dow Jones Industrial Average down 0.60%
  • NASDAQ Composite Index down 0.90%
  • Russell 2000 Index down 0.20%
  • 11 of 11 main S&P 500 sectors closed lower
  • Energy down 2.00%
  • Information technology down 1.30%
  • US Generic Govt 10-Yr down 0.80%
  • Bloomberg Dollar Spot Index (Rebased Version) down 0.40%

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