Wall Street finished another volatile day in the red on Tue. The Dow Jones Industrial Average lost 66.77 pts, or 0.19%, to close at 34,297.73. At its worst, the Dow was down 819 points. The S&P 500 index fell 1.22% on Tue. The techheavy Nasdaq Composite retreated 2.28%. The small cap Russell 2000 dropped 1.45%.
In extended-hours trade, Microsoft (MSFT US, -2.66%) is up 1.2%. After the bell, Microsoft reported solid results, but some analysts had concerns about the decelerating revenue from its Azure cloud-computing services unit.
Policymakers at the US Federal Reserve will conclude their 2-day Jan meeting later today (Wed). The Fed is widely expected to signal a 25 basis point (bps) hike in Mar, although a 50 bps move is also thought a possibility.
The yield on the 10-year Treasury note slipped 0.17 basis points (bps) to 1.7689%.
The most actively traded US gold futures (Feb) contract settled up $10.80, or 0.6%, at US$1,852.50/oz. March silver, which is the most actively traded silver futures, rose 9.6 cents, or 0.4%, to end at US$23.896/oz.
The ICE dollar index (DXY), which measures the strength of the greenback against a basket of currencies, was mostly unchanged at 95.948.
The Singapore dollar strengthened by 0.2% on Tue, after the Monetary Authority of Singapore (MAS) surprised the market by taking its first unscheduled action since 2015. The MAS, which uses FX as its main policy tool, will "raise slightly the rate of appreciation" of its main currency band, while keeping the width and center of the band unchanged.
The front-month Brent and WTI futures closed up $1.93 at US$88.20/bbl and $2.29 at US$85.60/bbl respectively.
European equity markets finished higher on Tue. The UK FTSE gained 1.02%, France's CAC 40 rose 0.74%, while the German DAX advanced 0.75%.