U.S. stocks traded lower midway through trading, with the Dow Jones falling more than 1% on Tuesday.

The Dow traded down 1.07% to 41,462.06 while the NASDAQ declined 0.19% to 17,434.41. The S&P 500 also fell, dropping, 0.66% to 5,577.74.

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Leading and Lagging Sectors

Information technology shares slipped by just 0.1% on Tuesday.

In trading on Tuesday, industrials shares dipped by 1.2%.

Top Headline

Ciena Corp. CIEN reported better-than-expected fiscal first-quarter earnings.

The company posted revenue growth of 3.3% year-on-year to $1.07 billion, beating the analyst consensus estimate of $1.05 billion. The American telecommunications networking equipment and software services supplier reported adjusted EPS of 64 cents, beating the analyst consensus estimate of 41 cents.

Equities Trading UP
                       

• Ramaco Resources, Inc. METC shares shot up 34% to $11.28 following better-than-expected quarterly results.
• Shares of 2seventy bio, Inc. TSVTgot a boost, surging 76% to $4.93 after the company announced it has agreed to be acquired by Bristol Myers Squibb for $286 million.
• Hesai Group HSAI shares were also up, gaining 41% to $22.60 after the company announced it secured a multi-year deal with Mercedes to supply Lidar sensors.

Equities Trading DOWN

• Arvinas, Inc. ARVN shares dropped 51% to $8.63 after the company announced topline results from the phase 3 VERITAC-2 Trial of Vepdegestrant Monotherapy Versus Fulvestrant in adults with advanced or retastatic breast cancer.
• Shares of Asana, Inc. ASAN were down 28% to $11.93 after the company reported fourth-quarter financial results announced the departure of CEO Dustin Moskovitz. Multiple firms cut their respective price targets on the stock.
• Sacks Parente Golf, Inc. SPGC was down, falling 32% to $0.1085 after the company initiated a 1-for-30 reverse stock split and announced a rebranding to the name Newton Golf.

Commodities

In commodity news, oil traded up 1.1% to $66.78 while gold traded up 0.8% at $2,923.10.

Silver traded up 1.9% to $33.15 on Tuesday, while copper rose 2% to $4.7580.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 1.09%, Germany's DAX 40 fell 0.35% and France's CAC 40 fell 0.66%. Spain's IBEX 35 Index fell 0.92%, while London's FTSE 100 fell 0.83%.

Asia Pacific Markets

Asian markets closed mostly lower on Tuesday, with Japan's Nikkei dipping 0.64%, China's Shanghai Composite Index gaining 0.41% and Hong Kong's Hang Seng Index falling 0.01%, India's BSE Sensex falling 0.02%.

Economics

The NFIB Small Business Optimism Index fell 2.1 points to a reading of 100.7 in February, recording the lowest reading since October 2024.

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