Wall Street closes with heavy losses, Dow Jones down 2.32pc

AP  File		Workers on the floor of the New York Stock Exchange on Nov. 7

At the close of regular trading, the DJIA - the main indicator for USA stocks - had lost 602.12 points, coming to rest at 25,387.18, while the Siamp;P500 index fell 1.97 percent to 2,726.22 and the NASDAQ index - which includes the important tech companies - dropped 2.78 percent to 7,200.87, Efe reported. Apple shares tumbled on reports that a parts supplier to the tech giant has seen a drop in orders.

Also improving the market's direction was a rebound in technology stocks, which jumped 0.7%, to recover from a steep sell-off on Monday when Apple shares took a hit on worries about a slowdown in sales of iPhones.

With a half hour left in the trading day, the Dow had shaved off more than 500 points at 25,487.21 while the broader S&P 500 was down 1.6 percent at 2,737.05.

Nearly all market sectors ended the day in negative territory with tech stocks falling 5.54 per cent, discretionary consumer goods by 2.31 per cent, energy 2.14 per cent and both finance and industrials by 1.99 per cent.

The Nasdaq composite slid 206.03 points, or 2.8 percent, to 7,200.87.

The S&P 500 index fell 39 points, or 1.4 per cent to 2,741.

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The S&P 500 is down 58.83 points, or 2.1 percent.

Monday's decline followed a hard month of October that saw the Dow lose 5 percent and the Nasdaq fall 9 percent.

The Nasdaq is up 297.48 points, or 4.3 per cent. Brent crude, used to price global oils, picked up 1 percent to $70.91 per barrel in London.

US stocks moved higher in early trade on Tuesday as market sentiment was boosted by new advances in US-China trade talks and a rebound in tech stocks. Netflix Inc (NASDAQ:NFLX) dropped 3.1%, while Amazon.com Inc (NASDAQ:AMZN) shares fell over 4% to $1,636.85.

Earlier in the day, President Donald Trump claimed, without evidence, that the Democrats' gains in last week's mid-term elections were causing the stock market woes. "We continue to like tech going into next year, but we think it could be a little bit of a rocky period for the group as we continue through the last two months of the year".

Elsewhere, the Saudi energy minister, Khalid al-Falih, told reporters the kingdom was ready to cut oil production by 500,000 barrels a day in December.

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Traders work on the floor of the New York Stock Exchange in New York October 3, 2018.

The S&P tech sector was also up about 1 %, with shares of Facebook, Amazon.com and Netflix all trading higher. Brent crude, used to price worldwide oils, lost $1.28 to $68.84 in London.

CURRENCIES: The dollar strengthened to 113.85 yen from 113.80 yen on Friday.

In Europe, London's FTSE traded lower by 0.2 percent, Germany's DAX was lower by 0.9 percent and France's CAC declined 0.3 percent.

JAPAN ECONOMY: The Japanese economy shrank at an annualized rate of 1.2 per cent in July-September, as consumer spending and investment fell, according to government data.

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