Wall Street fell on Tuesday as weak numbers from China added to worries about a global recession as heavy regulatory tensions caused tech stocks to plummet.
Overnight data showed that Chinese manufacturers’ prices fell to their fastest level in three years in August, while orders for machine tool manufacturers in Japan marked their biggest decline since 2009, down 37% per year.
Facebook and Google, meanwhile, have been under pressure over news that tech companies face four separate antitrust investigations that will examine whether or not the biggest tech firms should break down.
Apple was down 0.3% ahead of an event expected to unveil its iPhones and video streaming service. Netflix fell 1.6% and Walt Disney dropped 0.6% as Apple’s streaming service details could damage their streaming programs.
In commodities, crude oil rose 0.4% to $ 58.09 a barrel. The US dollar index, which measures the green against a basket of six major currencies, rose 0.1% to 98,352 and the gold futures fell 0.3% to $ 1,507.25 an ounce./investing