US stock markets declined on Tuesday. By the close in New York, the Dow reached 52,786 points, marking a drop of 1.2 percent compared to the previous trading day. Shortly before that, the broader S&P 500 was down 0.6 percent at approximately 7,675 points, while the Nasdaq 100, the tech index, closed at around 29,505 points, down 0.2 percent.
Amgen stocks suffered particularly significantly, with some shares falling by over ten percent. This downturn followed setbacks experienced by its Swiss competitor, Novartis, regarding a cholesterol medication in a recent study. These developments generated doubts about Amgen’s experimental cholesterol agent, Olpasiran, which operates on a similar mechanism.
In currency markets, the common European unit strengthened slightly by Tuesday evening, with one Euro trading at 1.1625 US dollars, and the dollar correspondingly fetching 0.8602 Euros.
Commodity prices showed mixed movement. The price of gold fell noticeably, reaching $4,358 per fine ounce in the evening, a decrease of 1.1 percent. This equated to a cost of 120.54 Euros per gram. Conversely, oil prices rose sharply. By 10 PM German time on Tuesday, a barrel of North Sea Brent crude cost $98.76, which was 1.8 percent more than the previous day’s closing price.
