by Stephen Culp

NEW YORK (Reuters) – The New York Stock Exchange ended lower on Tuesday the day after new closing records for the S&P 500 and the Nasdaq as investors, deprived of economic data because of the “shutdown”, scrutinize secondary indicators and statements from leaders of the Federal Reserve (Fed) for clues on economic weakness and monetary policy.

The Dow Jones index fell 0.20%, or 91.99 points, to 46,602.98 points. The broader Standard & Poor’s 500 lost -25.69 points, or -0.38% to 6,714.59 points. The Nasdaq Composite fell -153.30 points, or -0.67% to 22,788.363 points.

All three indexes ended lower as a report released Tuesday by the New York Fed showed that Americans were more worried about the future of the job market in September, while revising upwards their forecasts regarding the evolution of inflation in the short term.

Deprived of economic data while the “shutdown” continues in the administration due to lack of agreement between Republicans and Democrats on the budget, investors are falling back on secondary indicators and on the declarations of Fed leaders to know if the financial institution will lead to a further reduction in its rates.

Fed Governor Stephen Miran has argued in favor of continuing rate cuts, highlighting the risks of maintaining too restrictive a policy.

In terms of values, Tesla lost 4.5% after presenting a more affordable version of its Model Y SUV.

AMD advances 3.8%, driven by price target increases from Citigroup, Barclays and Bernstein, and while the stock had already jumped 23.7% the day before following a multi-year agreement with OpenAI.

IBM takes 1.5% after the company announced a partnership with Artificial Intelligence startup Anthropic.

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