US stocks compound Monday losses



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Dow Jones Industrial Average

Last Updated at 13 Apr 2018, 15:06 GMT *Chart shows local time Dow Jones intraday chart
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Nasdaq Index

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(Close): US shares closed slightly lower on Tuesday, compounding Monday's heavy losses, which wiped out all the gains made in 2015.

Investors remain concerned about a possible interest rate rise by the US Federal Reserve, which would increase companies' borrowing costs.

The Dow Jones fell 26.98 points, or 0.15% to 17,635.96.

The S&P 500 lost 3.85 points, or 0.19%, to 2,040.31, and the Nasdaq ended 9.85 points lower, or 0.2%, at 4,849.94.

The US dollar continued strengthening, hitting a fresh 12-year high against the euro.

It rose another 1.34%, making a dollar worth 94.88 euro cents.

Some market-watchers are concerned that a strong dollar will negatively impact US firms, whose overseas earnings may be worth less after currency conversions.

Additionally, a strong dollar could make it more difficult for companies to compete with foreign rivals, who may be able to offer cheaper products.

Intel was the biggest riser on the Dow Jones, up 2.13% amid rumours that the firm will supply chips for Apple's next smartphone.