US Markets The S&P 500 ended in the negative territory for the fourth consecutive trading session on Tuesday amid ongoing concerns about the health of the U.S. economy. - Paramount Global's CEO said the company will likely suffer from lower advertising revenue due to an industry-wide decline in marketing spending. This caused Paramount's shares to fall by 7% and contributed to the negative market sentiment.
- Morgan Stanley was down after announcing plans to cut 2% of its workforce.
- The current 10 Year U.S. Treasury yield is set at 3.52320%
| Dow Jones | 33,596.34 | -1.03% | | S&P 500 | 3,941.26 | -1.44% | | Nasdaq | 11,014.89 | -2.00% | | Russell 2000 | 1,812.58 | -1.50% | *Stock Market data as of the last closing bell. Data received directly from the reference indexes through ICE Data Services. Do you not understand any of these figures? Check out our explainer.
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Canadian Markets Stocks in Canada ended in the red on Tuesday as investors are concerned about rising consumer debt and higher borrowing costs. - Consumer debt reached $2.36T in Canada in Q3, a 7.3% increase from a year ago.
- Non-mortgage debt rose to an average of $21,183, the highest level since Q2 2020, when households were hit with the initial shock of the pandemic.
- The number of borrowers rose by 3.1%, while credit card spending hit an all-time high for Q3.
*Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services
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European Markets Stocks in Europe were down as well, with global sentiment still depressed. - The Stoxx 600 lost 0.6% on the day, with almost all industries negative again.
- Tech stocks fell by 1.5%, leading losses. Financial stocks fell by 1.4% and healthcare by 1.1%.
- Aeroports de Paris slumped 12% after Royal Schipol sold its entire 3.91% stake in the company at a discount to quickly exit its position.
| Euro STOXX 50 | 3,939.19 | -0.44% | | UK (FTSE 100) | 7,521.39 | -0.61% | | Germany (DAX) | 14,343.19 | -0.72% | | France (CAC 40) | 6,687.79 | -0.14% | *European stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
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Asian Markets Stocks in Asia were mostly down on Tuesday, following the negative sentiment in Europe and North America. - Inflation in the Philippines hit a 14-year high of 8%, higher than the 7.8% increase expected by the market.
- Core inflation reached 6.5%, also above expectations.
- Australia's reserve bank said that more interest rate hikes are likely in the coming months.
| S&P Asia 50 | 4,482.65 | -1.79% | | Japan (Nikkei 225) | 27,885.87 | 0.24% | | South Korea (KOSPI) | 2,393.16 | -1.08% | | China (Hang Seng) | 19,441.18 | -0.40% | | India (SENSEX) | 62,626.36 | -0.33% | *Asian stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
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Commodities Oil prices hit their lowest mark in 2022 amid concerns that slower economic growth will lead to a decrease in demand. - Brent lost 4.44% on Tuesday, while US West Texas Intermediate crude fell by 4.24%.
- Activity in the service industry in China is at a six-month low, which suggests the economy is slowing.
- The price cap on Russian crude that came into effect this week has not yet reduced the amount of Russian crude in markets and has had a limited effect on declining oil prices, analysts say.
| Oil (NYSEARCA:OIL) | 28.20 | -4.02% | | Gold (NYSEARCA:GLD) | 164.84 | 0.27% | | Silver (NYSEARCA:SLV) | 20.44 | 0.00% | | Corn (NYSEARCA:CORN) | 25.55 | -0.39% | | Lumber (NASDAQ:WOOD) | 75.06 | -0.65% | *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, click here.
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Currency Exchange Rates The U.S. Dollar rose slightly on Tuesday, following larger gains on Monday. - The U.S. Dollar Index was up 0.1% on Tuesday, adding to its 10% gain in 2022.
- The Canadian Dollar was down ahead of today's interest rate decision
- The Indian Rupee hit a one-year low against the USD.
| UK(GBP) | £0.82 | 1.35% | | Europe (EURO) | €0.96 | 0.72% | | Canada (Canadian Dollar) | $1.37 | 1.52% | | Japan (Yen) | ¥136.99 | 1.86% | *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, click here.
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Cryptocurrency The cryptocurrency market was down on Tuesday, tracking the declines in equities. - A U.S. House investigation has concluded that Republican representative Madison Cawthorn improperly promoted a cryptocurrency. The investigation found that Cawthorn's actions were improper but not illegal.
- Despite not yet facing any charges, Sam Bankman-Fried, the founder and former CEO of the now-bankrupt FTX, has retained Mark Cohen, a former federal prosecutor who represented Ghislaine Maxwell, as his attorney.
- Six-time NBA champion Scottie Pippen plans to launch a new collection of virtual sneakers.
| Bitcoin | $16,988.20 | -0.84% | | Ethereum | $1,254.47 | -0.32% | | Litecoin | $78.71 | -1.87% | | Bitcoin Cash | $111.12 | -0.04% | *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, click here.
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 |  | Liam Gill is a founder, lawyer and investor.
He previously founded Fumarii Technologies, which became a top 20 ranked cloud computing service (Yahoo Finance! 2019) valued at over $30M. He holds an LLB Laws (UK), MSc Management and Master of Laws and currently practices law in Vancouver, Canada.
|   | | Editor | Eduardo Garcia is a writer and editor based in New York. He is the author of "Things You Can Do," an illustrated book about climate action. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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