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U.S. stocks traded lower midway through trading on Tuesday, with the Dow Jones index falling by more than 300 points.
The Dow traded down 0.60% to 50,482.12. The NASDAQ fell 2.81% to 25,199.98, while the S&P 500 declined 1.64% to 7,284.03.
Real estate shares rose 2% on Tuesday. Information technology stocks fell 4.4% during the session.
The U.S. trade deficit shrank to $55.9 billion in April, down from a revised $56.6 billion in the prior month. Economists’ estimates called for a deficit of $56.1 billion.
Imports into the U.S. increased 2.0% month-over-month to $383.0 billion in April. Exports rose 2.6% to a record $327.1 billion.
European shares were mostly higher. The eurozone’s STOXX 600 rose 0.8%, and Spain’s IBEX 35 Index gained 1.1%. London’s FTSE 100 fell 0.2%, Germany’s DAX rose 0.7%, and France’s CAC 40 climbed 1.1%.
In Asia-Pacific, markets closed mostly higher. Japan’s Nikkei 225 surged 2.17%, Hong Kong’s Hang Seng Index fell 0.37%, China’s Shanghai Composite rose 1.28%, and India’s BSE Sensex increased 0.54%.
Coinbase has launched a High Yield USDC vault within its in-app DeFi lending offering, adding a second lending option that provides exposure to a wider range of collateral assets. The product is powered by Morpho infrastructure and uses vault allocations curated by Steakhouse Financial.
