US sharemarkets fell on Tuesday but finished well off the lows. A lower oil price weighed on the energy sector. Shares in Caterpillar fell 7.67% after the company didn't change its earnings forecast after lifting it the past two quarters. Shares in 3M fell by 4.4% after cutting earnings guidance. The Dow Jones fell by 126 points or 0.5% after being down 549 points in morning trade. The S&P500 index fell by 0.6% and the Nasdaq index lost 31 points or 0.4%.
US sharemarkets fell on Tuesday but finished well off the lows. A lower oil price weighed on the energy sector. Shares in Caterpillar fell 7.67% after the company didn't change its earnings forecast after lifting it the past two quarters. Shares in 3M fell by 4.4% after cutting earnings guidance. The Dow Jones fell by 126 points or 0.5% after being down 549 points in morning trade. The S&P500 index fell by 0.6% and the Nasdaq index lost 31 points or 0.4%.
European sharemarkets ended lower on Tuesday after the European Commission rejected Italy's budget and asked the country to submit a new one. Company earnings results also generally disappointed investors. The pan-European STOXX600 index fell by 1.6%. The German Dax index lost 2.2% and the UK FTSE index fell by 1.2%. In London trade, shares of Rio Tinto and BHP were both down by 1.9%.
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