- The Nasdaq fell 0.45% on Tuesday to close at 15,038 points.
- Apple shares dip after unveiling new iPhone 13 and other products.
- Las Vegas Sands plummeted on Macau government clamp down.
The US markets fell on Tuesday despite a government report showing the US Consumer Price Index rose 0.3% in August, the slowest rate of growth in six months. Some investors are also concerned that stocks are due for a correction after rallying for an extended period of time.
The Dow Jones fell 0.84% to finish the trading day down 292 points to close at 34,578 points .
The tech heavy NASDAQ fell 0.45% to finish the trading day down 68 points to close at 15,038 points
One bitcoin is worth US$47,040 going into the Asian trading day.
The Australian dollar is stronger against the major currencies and is buying 73.17 US cents.
Apple unveiled its 15th generation smartphones and other new products at its annual event yesterday. The iPhone 13 was the headline alongside new Apple Watches and iPads, but investors sold out of Apple shares following the event in fear of history repeating itself with the success of the iPhone 12 possibly making it hard for Apple?s new iPhones to trump the performance.
Las Vegas Sands shares plummeted just under 13.8% as an increase in COVID-19 cases in the Chinese province of Fujian could result in fewer visitors to the world?s largest gambling hub, Macau. A second announcement hit stocks harder as Macau wants government representatives to monitor casino operators, plans to increase local ownership of gaming companies and introduce new tighter controls over the gambling hub to clamp down on money laundering and currency outflows.
And a fake news story published through a legitimate news outlet claiming that Walmart will be accepting Litecoin cryptocurrency through its digital stores, sent the price of Litecoin surging before Walmart announced it was an inauthentic statement.