US stock indices fell at the close of trading on Tuesday, after a volatile session in the first session of the week, after returning from the Labor Day holiday.
This comes as investors continue to evaluate the employment data released last Friday, which showed further improvement in the labor market, which raises uncertainty about the next steps of the Federal Reserve.
At the end of trading, the Dow Jones index fell by 0.55%, or 173.14 points, to 31,145.30 points, and the S&P 500 fell by 0.41% to 3908.19 points, while the Nasdaq Composite decreased by 0.74% to 11,544.91 points, continuing its losses. For the seventh consecutive session, the longest losing streak since 2016.
Meanwhile, the 10-year US Treasury yield rose to 3.353% before falling to 3.342%.
The yield on two-year Treasuries also rose to 3.515%, approaching its highest level since 2007.
Moreover, economic data released today showed that the ISM purchasing managers’ index of the US service sector rose to 56.9 points during August, against expectations of a decrease to 55.5 points.