The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -1.02%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -1.04%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.80%.
Stock indexes retreated Tuesday, with the S&P 500, Dow Jones Industrials, and Nasdaq 100 falling to 1-1/2 week lows. Weakness in technology stocks weighed on the overall market as some negative corporate news undercut tech stocks. Apple closed down more than -2% after figures from Counterpoint Research showed iPhone sales in China fell by -24% in the first six weeks of this year. Also, Tesla closed down more than -4%, adding to Monday’s -7% loss after Chinese vehicle shipments plunged. In addition, Advanced Micro Devices closed down more than -1% after hitting a U.S. government roadblock in its plan to sell an artificial intelligence chip made for China.
