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© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect
NEW YORK – U.S. stock markets experienced a pullback on Tuesday as investors awaited the release of the Federal Open Market Committee (FOMC) Minutes, seeking insights into the central bank’s monetary policy direction. This cautious sentiment was further influenced by a disappointing Existing Home Sales report, which showed a decline significantly exceeding expectations.
The saw a retraction, hovering around the 4530 mark. The downturn reflects investor caution and is viewed as a potential normalization following the recent upward trends in the market. Similarly, the tech-heavy decreased to approximately 15,900 points.
Despite the broader market retreat, Tesla Inc. (NASDAQ:) managed to buck the trend with a 2.5% increase in its share price, hinting at investor confidence in the electric vehicle maker’s individual prospects amid market volatility.
The also trended lower, nearing a critical threshold of 35,000 points. Within the index, Intel Corp . (NASDAQ:) stood out with a notable decline of 2.5%, aligning with the overall bearish mood driven by macroeconomic concerns and anticipation for further cues from the upcoming FOMC Minutes.
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