US STOCKS TUMBLE: Here's what you need to know

Stocks tumbled on Tuesday, rattled by the weekend’s saber rattling by North Korea and ongoing worries about the upcoming debt ceiling deadline.

All three major indices fell by about one per cent on Tuesday, with the Nasdaq taking the biggest hit.

Several of the chip makers, like AMD and Nvidia, dragged down the index.

And now, the scoreboard:

  • Dow: 21,716.80, -270.76, (-1.23%)
  • S&P 500: 2,447.98, -28.57, (-1.15%)
  • Nasdaq: 6,375.57, -59.76, (-0.93%)
  1. Stocks tumble as banks sell-off, North Korea tensions mount. North Korea tested its largest nuclear weapon yet over the weekend, and the stock markets opened weaker on Tuesday.
  2. Traders are increasingly worried that the US government may soon run out of ways to pay its bills. The bond market continues to reflect fears that the US government may soon run out of funding.
  3. Here’s which parts of China’s economy would get slammed if Trump put his Twitter threats into action. President Donald Trump is considering cutting off trade with countries who trade with North Korea, including China.
  4. Congress is leaning toward ‘punting’ on its huge deadlines, but it doesn’t mean they ‘can get through the month drama-free’. Congress is facing a brutal September, but according to many analysts, it looks like lawmakers may kick the can down the road a little longer.
  5. 20-somethings are spending less money than you think. According to a recent poll, youngsters are spending $US20 less per day than their 2008 counterparts.


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