- The Nasdaq fell 2.82% on Tuesday to close at 14,547 points.
- AMD sank 6% after CEO Lisa Su said the global chip crisis may be over soon.
- Pfizer fell after the company announced a delay in 5-12yo vaccine submission.
The US markets tumbled on Tuesday as inflation and interest rate concerns worried investors which weighed on bond prices and caused bond yields to rise. On Tuesday Republicans also blocked an effort by Senate Majority leader Chuck Schumer to raise the debt limit without any Republican votes.
The Dow Jones fell 1.63% to finish the trading day down 569 points to close at 34,300 points.
The tech heavy NASDAQ fell 2.83% to finish the trading day down 423 points to close at 14,547 points.
One bitcoin is worth US$40,976 going into the Asian trading day.
The Australian dollar is stronger against the major currencies and is buying 72.42 US cents.
US-based Advanced Micro Devices (AMD) sank more than 6% on Tuesday following the semiconductor company?s CEO Lisa Su sharing her opinion that the global semiconductor shortage crisis is likely to be a short term, and over before some investors expect.
Pfizer shares dipped on Tuesday after the biotech company said it will delay submitting an application for its COVID-19 vaccine to be approved by the US FDA for children aged 5-12 years old. Investors are also concerned over the fall in sales of the vaccine when the pandemic ends in the near future. Pfizer also announced that it has started testing a pill that has the potential to prevent infection after exposure to another person with COVID-19.
And Amazon?s newly announced Astro home robot is reportedly not ready for release, is a ?disaster? and ?throws itself down stairs? according to employees working on the new gadget.