The US July ISM Services Index was worse than expected, exacerbating recent stagflation concerns following employment data releases. Meanwhile, US President Donald Trump announced impending tariffs on chips and pharmaceuticals, leading to a broad slump in US stocks on Tuesday.
The DJIA reversed its previous day's strong rebound, ending down 61 points or 0.1% at 44,111; the S&P 500 dipped 30 points or 0.5% to close at 6,299; and the Nasdaq shed 137 points or 0.7% to close at 20,916.
Trump indicated that new semiconductor tariffs could be introduced as early as next week, causing TSMC (TSM.US) to slip 2.7%.
Tesla (TSLA.US) saw a plunge of over 55% in sales in the UK and Germany last month, with its stock closing down 0.2%. Intel's (INTC.US) next-generation PC chip key manufacturing process hit snag, yet the stock soared over 3% against the market trend.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| TSLA (C) |
10688 |
420 (-) |
0.235 |
5.4 X |
| TSLA (P) |
10692 |
280 (-) |
0.430 |
3.5 X |
