US stock markets were mostly negative overnight, the S&P 500 and Dow Jones dropping 0.2% and 0.6%, respectively, after an incredible run of new record closes.
The falls came as bond yields fell on the back of a weaker than expected PMI for services in the US economy, with both energy and smaller companies leading the index lower.
The Nasdaq, however, managed to deliver another record close, adding 0.2%, behind Amazon’s highest close in ten months.
Amazon’s record as contract cancelled
Amazon (NASDAQ: AMZN) added 4.7% after the US Department of Defense announced they were withdrawing from their JEDI Cloud contract that Microsoft (NASDAQ: MSFT) had won, leaving hope that Amazon may be in the running for the US$10 billion deal. This came on the same day that Jeff Bezos finished up formally at the company.
Didi pulls China stocks lower
Recently-listed Didi Global (NYSE: DIDI) continued to tank, falling 20%, after the Chinese regulator’s aggressive action, dragging the major Chinese listed names down with it, including Alibaba (NYSE: BABA) and Tencent, with both falling around 3%.
US stock market movers
Here’s how other popular US stocks performed on Tuesday.
- Shopify (NASDAQ: SHOP) up 5%
- CrowdStrike (NASDAQ: CRWD) up 4.9%
- Zoom (NASDAQ: ZM) up 3.2%
- Tesla (NASDAQ: TSLA) down 2.8%
- JD.com (NASDAQ: JD) down 5.0%
- Pinduoduo (NASDAQ: PDD) down 5.2%
- Bilibili (NASDAQ: BILI) down 9.1%
ASX 200 today
Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is expected to edge lower at the open on Wednesday. For all the latest, check out Rask Media’s ASX 200 morning report.
