Investing.com - U.S. stocks were lower on Tuesday, as market sentiment remained under pressure amid uncertainty over the outcome of talks to help restructure Greek sovereign debt.
During early U.S. trade, the Dow Jones Industrial Average dropped 0.70%, the S&P 500 index declined 0.68%, while the Nasdaq Composite index fell 0.53%.
On Monday, European Union finance ministers rejected demands by Greece’s creditors that new bonds to be issued in exchange for their existing Greek holdings will carry an interest rate of 4%, prolonging negotiations on the issue.
Sentiment found support earlier after preliminary data showed that manufacturing activity in the single currency bloc rose at the fastest pace since August this month.
But a separate report showed that industrial new orders in the euro zone declined in November, albeit at a slower pace than expected.
U.S. lenders tracked their European counterparts lower as shares in Citigroup tumbled 2.68% and JP Morgan declined 1.91%, while Bank of America and Goldman Sachs plummeted 1.66% and 1.55% respectively.
Meanwhile, Travelers saw shares plunge 2.16% after the company reported earnings that were slightly below forecasts.
Also in earnings, Verizon retreated 2.06% after reporting a loss due to a non-cash pension charge and high costs from strong sales of the Apple iPhone. Apple was scheduled to post earnings after the closing bell.
Elsewhere, McDonald's plummeted 2.04% although the fast-food giant delivered better-than-expected quarterly results.
Shares in Texas Instruments declined 1.29% although the company reported better-than-expected fourth-quarter chip sales as customers in a broad area of industries replenished depleted inventories.
Boeing shares were down 1.21% after the Pentagon said the company won a USD693 million contract modification to build five more C-17 transport planes for the U.S. Air Force.
On the upside, hard drive maker Western Digital surged 8.04% after posting better-than-expected quarterly results and forecasting a strong current quarter, signaling a faster-than-anticipated return to production capacity at key facilities damaged by the floods in Thailand last year.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 tumbled 1.02%, France’s CAC 40 plunged 0.99%, Germany's DAX plummeted 0.95%, while Britain's FTSE 100 retreated 0.90%.
During the Asian trading session, Hong Kong's Hang Seng Index was closed due to the Chinese Lunar New Year holiday, while Japan’s Nikkei 225 Index edged 0.02% higher.
During early U.S. trade, the Dow Jones Industrial Average dropped 0.70%, the S&P 500 index declined 0.68%, while the Nasdaq Composite index fell 0.53%.
On Monday, European Union finance ministers rejected demands by Greece’s creditors that new bonds to be issued in exchange for their existing Greek holdings will carry an interest rate of 4%, prolonging negotiations on the issue.
Sentiment found support earlier after preliminary data showed that manufacturing activity in the single currency bloc rose at the fastest pace since August this month.
But a separate report showed that industrial new orders in the euro zone declined in November, albeit at a slower pace than expected.
U.S. lenders tracked their European counterparts lower as shares in Citigroup tumbled 2.68% and JP Morgan declined 1.91%, while Bank of America and Goldman Sachs plummeted 1.66% and 1.55% respectively.
Meanwhile, Travelers saw shares plunge 2.16% after the company reported earnings that were slightly below forecasts.
Also in earnings, Verizon retreated 2.06% after reporting a loss due to a non-cash pension charge and high costs from strong sales of the Apple iPhone. Apple was scheduled to post earnings after the closing bell.
Elsewhere, McDonald's plummeted 2.04% although the fast-food giant delivered better-than-expected quarterly results.
Shares in Texas Instruments declined 1.29% although the company reported better-than-expected fourth-quarter chip sales as customers in a broad area of industries replenished depleted inventories.
Boeing shares were down 1.21% after the Pentagon said the company won a USD693 million contract modification to build five more C-17 transport planes for the U.S. Air Force.
On the upside, hard drive maker Western Digital surged 8.04% after posting better-than-expected quarterly results and forecasting a strong current quarter, signaling a faster-than-anticipated return to production capacity at key facilities damaged by the floods in Thailand last year.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 tumbled 1.02%, France’s CAC 40 plunged 0.99%, Germany's DAX plummeted 0.95%, while Britain's FTSE 100 retreated 0.90%.
During the Asian trading session, Hong Kong's Hang Seng Index was closed due to the Chinese Lunar New Year holiday, while Japan’s Nikkei 225 Index edged 0.02% higher.