Tech Troubles Weigh on Global Markets as Energy Sector Slumps

Global stock markets experienced declines, triggered by weak tech forecasts and a plunge in oil prices, marking a downturn in key indexes. While U.S. financial firms reported positive earnings, ASML's disappointing outlook impacted tech shares. Falling oil prices amid Middle Eastern tensions added to the economy's instability.

On Tuesday, U.S. stocks tumbled, following the global trend as a disappointing sales forecast from ASML chipped away at tech shares. Meanwhile, crude oil prices slumped, reflecting easing supply concerns and diminished demand, leading the three major U.S. indexes to close in negative territory.

Although financial giants such as Goldman Sachs and Bank of America posted profits that beat expectations, healthcare companies like UnitedHealth underwhelmed. ASML's quarterly results further jolted the market with weak forecasts, affecting the U.S. chip sector substantially.

Oil prices faced a steep decline, influenced by Middle Eastern geopolitical assurances to the U.S. and reduced demand predictions by OPEC. The benchmark U.S. Treasury yields experienced a dip, and the dollar saw slight fluctuations against other currencies.

(With inputs from agencies.)