U.S. stocks closed lower on Tuesday, losing ground for a third straight session, as worries about economic slowdown and tighter monetary policy weighed on sentiment.
Data showing U.S. business activity dropping for a second straight month and at the fastest pace as well since May 2020 weighed.
Investors also ahead to Fed Chair Jerome Powell's speech at the central bank's annual Jackson Hole economic symposium later this week for clues about the bank's outlook for the economy and interest rates.
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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.