- Stocks in the United States fell for the first time in five days, owing to a sell-off in megacap technology stocks.
- The S&P 500 fell 0.1%, retreating from the benchmark's 69th record close on Monday. The Nasdaq 100 retreated after four-day rallies for companies such as Nvidia, Apple, and Alphabet. Nonetheless, the Dow Jones Industrial Average remained positive due to reopening beneficiaries such as Walt Disney and Boeing.
- Trading was choppy as thin volumes exaggerated moves, with shares changing hands in the major benchmarks about a third lower than daily averages for the previous 30 days.
- Global equities are on track for a third year of double-digit returns, fueled by the surge in the United States. Analysts are still optimistic about earnings forecasts, despite coronavirus outbreaks and a shift by some key central banks toward tighter monetary policy to combat high inflation.
