S&P 500 Down 1%; Sarepta Therapeutics Shares Plunge

U.S. stocks traded lower midway through trading, with the S&P 500 falling around 1% on Tuesday.

The Dow traded down 0.81% to 41,504.25 while the NASDAQ dipped 1.44% to 17,551.39. The S&P 500 also fell, dropping, 1.04% to 5,616.32.

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Leading and Lagging Sectors

Materials shares fell by just 0.3% on Tuesday.

In trading on Tuesday, communication services shares dipped by 2.6%.

Top Headline

IHS Holding Limited (NYSE:IHS) posted better-than-expected fourth-quarter results.

IHS Holding reported quarterly earnings of 73 cents per share which beat the analyst consensus estimate of 9 cents per share. The company reported quarterly sales of $437.822 million which beat the analyst consensus estimate of $424.001 million.

Equities Trading UP
                       

• Aditxt, Inc. (NASDAQ:ADTX) shares shot up 57% to $6.88 after the company announced it submitted an application for four new federal funding opportunities.
• Shares of Harrow, Inc. (NASDAQ:HROW)got a boost, surging 16% to $26.96 following fourth-quarter results.
• FinVolution Group (NYSE:FINV) shares were also up, gaining 18% to $10.72 after the company reported better-than-expected fourth-quarter financial results. Also, the company announced a new $150 million share repurchase program.

Equities Trading DOWN

• Gyre Therapeutics, Inc (NASDAQ:GYRE) shares dropped 27% to $9.02 following fourth-quarter results.
• Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) were down 22% to $78.60 after the company reported a patient death following treatment with Elevidys.
• HUYA Inc. (NYSE:HUYA) was down, falling 17% to $3.7499 following a fourth-quarter revenue miss.

Commodities

In commodity news, oil traded down 1.1% to $66.84 while gold traded up 1.2% at $3,042.70.

Silver traded up 1.5% to $34.805 on Tuesday, while copper rose 1% to $5.0080.

Euro zone

European shares closed higher today. The eurozone's STOXX 600 gained 0.61%, Germany's DAX 40 jumped 0.98% and France's CAC 40 gained 0.50%. Spain's IBEX 35 Index rose 1.58%, while London's FTSE 100 rose 0.29%.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan's Nikkei gaining 1.20%, China's Shanghai Composite Index gaining 0.11%, Hong Kong's Hang Seng Index surging 2.46% and India's BSE Sensex gaining 1.53%.

Economics

• U.S. housing starts surged 11.2% month-over-month to an annualized rate of 1.501 million in February following a revised 1.35 million in January.
• Building permits declined by 1.2% to an annualized rate of 1.456 million in February.
• U.S. import prices increased by 0.4% in February, versus market estimates of a 0.1% decline.
• U.S. export prices rose by 0.1% month-over-month in February.
• U.S. industrial production increased by 0.7% in February, surpassing market estimates of 0.2%.

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