Stocks Open Lower
Andrew Burton/Getty Images
In early trade, the Dow was down 14 points, the S&P 500 was down 2 points, and the Nasdaq was down 2 points.
These losses come after both the Dow and the S&P 500 made new all-time highs on Monday.
The big movers on Tuesday, however, were overseas, as the yen dropped again against the dollar, falling to a new 7-year low of 116 overnight after reports indicated that Japan could push back its planned sales tax increase.
Reports out of Japan also said that its prime minster Shinzo Abe could be planning a "snap election," which as Business Insider's Tomas Hirst reports, could allow Abe to force through policies that are politically challenging.
Gold and oil, which fell more than 1.5% on Monday, will also be in focus on Tuesday, as both commodities are currently sitting near multi-year lows.
In stock news, Alibaba shares will be talked about as Tuesday marks Singles Day in China, which is that country's equivalent of major US shopping events like Black Friday and Cyber Monday. Alibaba said that in the first hour of Singles Day, the company sold $2 billion in merchandise.
In early trade on Tuesday, Alibaba shares, which made a new all-time closing high on Monday, were down about 2%.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador