US close: Wall Street stocks extend tech-fuelled declines

(Sharecast News) - Wall Street stocks were sharply lower after the bell on Tuesday as tech stocks continued on with their worst performance since March.
At the close, the Dow Jones Industrial Average was down 2.25% at 27,500.89, the S&P 500 lost 2.78% to 3,331.84, and the Nasdaq Composite slid 4.11% to 10,847.69.

The Dow closed 632.42 points lower on Tuesday, extending losses recorded in the previous session when technology shares suffered their worst sell-off in more than five months.

Besides the ongoing tech rout, geopolitical developments were also weighing on sentiment on Tuesday after China accused the US of "bullying" following the launch of Beijing's global data security initiative.

China's new programme comes as a result of Washington's continued crackdown on the Asian nation's largest tech firms and pressuring other countries around the world to block access to them.

Donald Trump also recently discussed the concept of a "decoupling" from China and refusing to do business with the country altogether as part of an effort to make America the "manufacturing superpower of the world".

On the macro front, confidence in the US economy increased among small-business owners in August, according to the National Federation of Independent Business.

The NFIB's small business optimism index came in at 100.2 in August, a 1.4 point monthly increase - slightly above the historical 46-year average and expectations for a reading of 99.1.

Before markets closed, fresh data also revealed that consumer borrowing in the US rose for the second month in a row in July, with total credit ahead $12.2bn month-on-month, hastening from the revised $11.4bn growth recorded for June.

In corporate news, Tesla shares plunged 21.06% after a rebalancing of the S&P 500 unexpectedly saw the electric carmaker out of the benchmark.

Boeing shares were 5.82% weaker following a report from the Wall Street Journal that claimed production problems at a 787 Dreamliner factory led air-safety regulators to review potentially decade-long quality-control lapses.

Dow Jones - Risers

Walt Disney Co. (DIS) $134.20 1.67%
McDonald's Corp. (MCD) $213.58 0.87%
Nike Inc. (NKE) $112.72 0.28%
Caterpillar Inc. (CAT) $148.49 0.23%
Dowdupont Inc. (DWDP) $30.52 0.00%
Home Depot Inc. (HD) $269.26 -0.15%
Verizon Communications Inc. (VZ) $59.96 -0.86%
International Business Machines Corporation (CDI) (IBM) $121.21 -0.89%
Johnson & Johnson (JNJ) $147.26 -0.90%
Pfizer Inc. (PFE) $35.93 -1.18%

Dow Jones - Fallers

Apple Inc. (AAPL) $112.82 -6.73%
Boeing Co. (BA) $161.08 -5.83%
Microsoft Corp. (MSFT) $202.66 -5.41%
Goldman Sachs Group Inc. (GS) $202.48 -4.01%
Chevron Corp. (CVX) $78.97 -3.61%
JP Morgan Chase & Co. (JPM) $99.92 -3.48%
Raytheon Technologies Corporation (RTX) $59.25 -3.14%
Walmart Inc. (WMT) $138.45 -3.07%
Travelers Company Inc. (TRV) $113.75 -2.43%
Coca-Cola Co. (KO) $49.81 -2.41%

S&P 500 - Risers

Under Armour Inc. Class A (UAA) $10.95 4.99%
Under Armour, Inc. (UA) $9.74 4.51%
PVH Corp. (PVH) $66.04 4.13%
Tapestry Inc. (TPR) $15.00 3.02%
Southwest Airlines Co. (LUV) $40.51 2.82%
Delta Airlines Inc. (DAL) $32.54 2.42%
Wyndham Destinations Inc. (WYND) $32.11 2.13%
Alaska Air Group Inc. (ALK) $41.61 1.91%
Ford Motor Co. (F) $7.03 1.88%
Sba Communications Corp. (SBAC) $305.79 1.83%

S&P 500 - Fallers

Apache Corp. (APA) $13.04 -10.68%
Diamondback Energy Inc. (FANG) $31.99 -9.96%
KLA-Tencor Corp. (KLAC) $174.47 -9.77%
Occidental Petroleum Corp. (OXY) $11.06 -9.71%
Lam Research Corp. (LRCX) $302.72 -9.13%
Devon Energy Corp. (DVN) $9.63 -8.82%
Applied Materials Inc. (AMAT) $55.63 -8.74%
Marathon Oil Corp. (MRO) $4.50 -8.72%
Fluor Corp. (FLR) $8.33 -7.65%
Halliburton Co. (HAL) $14.81 -7.38%

Nasdaq 100 - Risers

Citrix Systems Inc. (CTXS) $138.65 1.10%
Ross Stores Inc. (ROST) $93.59 0.29%
American Airlines Group (AAL) $13.63 0.15%
Align Technology Inc. (ALGN) $309.22 0.07%
Celgene Corp. (CELG) $108.24 0.00%
Shire Plc Ads (SHPG) $179.20 0.00%
O'Reilly Automotive Inc. (ORLY) $470.41 -0.13%
CSX Corp. (CSX) $75.26 -0.33%
Illumina Inc. (ILMN) $340.95 -0.42%
Expedia Group Inc. (EXPE) $99.27 -0.53%

Nasdaq 100 - Fallers

Tesla Inc (TSLA) $330.21 -21.06%
KLA-Tencor Corp. (KLAC) $174.47 -9.77%
Lam Research Corp. (LRCX) $302.72 -9.13%
Applied Materials Inc. (AMAT) $55.63 -8.74%
Apple Inc. (AAPL) $112.82 -6.73%
Adobe Systems Inc. (ADBE) $462.13 -6.06%
Skyworks Solutions Inc. (SWKS) $130.84 -5.88%
Wynn Resorts Ltd. (WYNN) $82.68 -5.75%
NetEase Inc. Ads (NTES) $457.74 -5.67%
Nvidia Corp. (NVDA) $476.52 -5.62%