The Dow and S&P 500 fell today following a rally in the previous session, hit by declines in commodity-related shares and nervousness ahead of a Federal Reserve meeting.
The Nasdaq was up slightly, boosted by shares of Apple , up 1.7 percent at $127.03, and Facebook, up 1.7 percent at $79.36.
Among S&P 500 sectors, materials were the weakest with a 1.2 percent decline, led by Dupont, down 3.1 percent at $74.68. The energy sector was down 0.9 percent as oil prices fell further, pressured by concerns over a growing supply glut.
The Dow Jones industrial average fell 146.26 points, or 0.81 percent, to 17,831.16, the S&P 500 lost 9.11 points, or 0.44 percent, to 2,072.08 and the Nasdaq Composite added 1.94 points, or 0.04 percent, to 4,931.45.
While higher rates are a sign of strength in the US economy, some investors question whether the economy is strong enough to handle the increased borrowing costs.
Johnson & Johnson weighed most heavily on the S&P 500 with a 1.3 percent decline to $99.76.
The benchmark S&P 500 index on Monday had seen its biggest percentage gain since Feb. 3. Last week, the Dow and S&P registered their third week of losses.
Also boosting the Nasdaq, shares in American Airlines rose 7.6 percent to 54.02 after an announcement that it would join the S&P 500.
European shares retreated from a 7-1/2-year high, with PSA Peugeot Citroen leading automakers lower after the release of car sales data and a disappointing German economic sentiment survey.
Germany’s DAX, down 1.5 percent, underperformed the market after hitting a new record high on Monday. The pan-European FTSEurofirst 300 index ended 0.7 percent lower at 1,583.85 points, after setting a multi-year high of 1,598.03.
The STOXX Europe Automobiles and Parts index fell 2.5 percent, hit by a 5.9 percent fall in Peugeot after the automaker’s vehicle sales rose less than the sector in February.
Data from the Association of European Carmakers (ACEA) showed new car registrations in Europe rose 7 percent in the month of February, fuelled by double-digit sales growth in Italy and Spain.
European shares fell further after the German ZEW think tank said its survey of economic sentiment increased to 54.8 in March from 53.0 in February, less than a Reuters forecast of 58.2. ZEW warned a lack of progress towards defusing the Greek and Ukraine crises was dampening sentiment.
Meanwhile, Japan’s Nikkei share average ended at a fresh 15-year closing high today, with sentiment lifted by gains in US and European shares and expectations that Japanese companies could improve their return on equity.
The Nikkei share average closed at 19,437.00, up 1 percent, after rising as high as 19,479.89, its highest level since April 2000.
The broader Topix rose 0.8 percent to 1,570.50 and the JPX-Nikkei Index 400 advanced 0.9 percent to 14,303.11.
Source: Buenos Aires Herald