After moving moderately higher at the open, stocks have moved back to the downside over the course of morning trading on Tuesday. The major averages have pulled back well off their best levels of the day, sliding into negative territory.
While traders initially reacted positively to upbeat quarterly results from companies such as DuPont (DD), buying interest waned not long after the open and selling pressure picked up following the release of a Conference Board report showing a continued deterioration in consumer confidence in July.
Gold stocks are posting particularly steep losses in late morning trading, moving sharply lower along with the price of the precious metal. With the price of gold falling more than $20 an ounce, the NYSE Arca Gold Bugs Index is down by 3.8 percent.
Significant weakness has also emerged in a variety of other sectors, with housing, electronic storage, networking, and retail stocks posting notable losses. On the other hand, modest strength remains visible among utilities and banking stocks.
The major averages have moved off their worst levels in recent trading but currently remain stuck in the red. The Dow is down 16.27 points or 0.2 percent at 10,509.16, the Nasdaq is down 12.09 points or 0.5 percent at 2,284.34 and the S&P 500 is down 4.16 points or 0.4 percent at 1,110.85.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.