NEW YORK, Oct. 13 (Xinhua) -- U.S. stocks closed lower on Tuesday as a global chip selloff outweighed mixed bank earnings.
The Dow Jones Industrial Average fell 180.45 points, or 0.35 percent, to 51,670.1. The S&P 500 sank 1.79 points, or 0.02 percent, to 7,805.45. The Nasdaq Composite Index shed 41.52 points, or 0.15 percent, to 27,204.38.
Six of the 11 primary S&P 500 sectors ended in the red, with health and financials leading the laggards by falling 1.33 percent and 0.41 percent after Johnson & Johnson slid 5.73 percent. Energy and communication services led the gainers by going up 1.74 percent and 0.88 percent, respectively.
U.S. Treasury yields eased on Tuesday but stayed elevated. The benchmark 10-year yield traded around 5.22 percent and the 30-year yield near 5.56 percent, after pulling back from recent multiyear highs.
Oil prices were volatile as traders weighed hopes of increased Russian diesel supply against Middle East risk. West Texas Intermediate crude settled near 94 dollars a barrel, whipsawing on headlines out of Riyadh and the Gulf.
The chip rout was led by Micron, Applied Materials and SK Hynix. Among banks, Goldman Sachs dipped 0.23 percent after beating estimates, JPMorgan Chase edged down nearly 1 percent after a rare miss, while Citigroup and Wells Fargo fell 5.6 percent and 3.1 percent, respectively.
On the economic front, existing-home sales rose 1.5 percent in September to a 3.99 million annual pace, the National Association of Realtors reported.
Paul Tudor Jones said he would short U.S. stocks in the whole year of 2027 as current market conditions are similar to those just before the burst of the dot-com bubble in the beginning of the 21st century.
Investors are watching for Wednesday's CPI data. Fed funds futures showed October hike odds near 19 percent and December near 84 percent, according to CME FedWatch ahead of the Oct. 28 meeting. ■
