- The Nasdaq fell 0.09% to close Tuesday?s session at 13,389.
- Affirm stocks plummeted after releasing Q3 results despite strong revenues.
- Novavax plunged on further delays to COVID-19 ramped up production.
The US markets closed lower again on Tuesday as concerns about inflation continue to rattle investors, in addition to fears of raw material price spikes and shortages as the price of commodities, shipping costs and other related categories continue to climb.
The Dow Jones fell 1.36%, its biggest one-day decline since February, to finish the trading day down 474 points to close at 34,269 points.
The tech heavy NASDAQ fell 0.09% to finish the trading day down 12 points to close at 13,389 points.
One bitcoin is worth US$56,985 going into the Asian trading day.
The Australian dollar is stronger against the major currencies and is buying 78.41 US cents.
US-based BNPL provider Affirm sank as much as 18% on Tuesday after the company reported Q3 results including a net loss per share of US$1.06/share much higher than the expected US$0.31/share. Affirm reported strength in other areas like revenues of US$230.7m, easily topping the US$198.2m estimate, a more than doubling of active merchants to 12,000, and a 60% hike in active consumers to 5.4 million.
Shares in biotech company Novavax plunged on Tuesday after the company announced further delays for its ramped up COVID-19 production timeline. Novavax also said it doesn?t expect to seek regulatory approval in the US, EU and UK until the third quarter of 2021 as it continues struggling to access raw materials and equipment needed to make its vaccine.
And Uber and Lyft are taking US citizens to their COVID-19 vaccine appointments free of charge following a new partnership with the White House to achieve President Biden?s goal of 70% of the US adult population receiving at least one vaccine dose by July 4.