MARKET WRAP: Stocks, Bonds, Commodities
 

On Tuesday, U.S. stocks lost a further 1% extending their losing streak to a third session. The Dow Jones Industrial Average dropped 308.12 points (-0.96%) to 31,790, the S&P 500 fell 44.45 points (-1.10%) to 3,986, and the Nasdaq 100 slid 141.62 points (-1.13%) to 12,342.

Upbeat U.S. economic data fueled fears that the Federal Reserve would stay aggressive on rate-hikes. U.S. official data showed the number of job openings increased to 11.24 million in July (vs 10.50 million expected). The Conference Board consumer confidence index rebounded to 103.2 in August (vs 98.0 expected).

The U.S. 10-year Treasury yield added 1.5 basis points to 3.117%.

The energy (-3.36%), automobiles (-2.18%), and transportation (-1.93%) sectors lost the most.

Oil prices sank 5% on concerns of falling oil demand, and as Iraq's crude exports were not affected by recent unrest in the country. U.S. WTI crude futures slid $4.80 (-4.95%) to $92.17 a barrel.

Then, Exxon Mobil (XOM) declined 3.81%, APA Corp (APA) fell 4.93%, Occidental Petroleum (OXY) dropped 4.32%, and Marathon Oil (MRO) was down 4.52%.

Meanwhile, Alcoa (AA) plunged 8.49%, Freeport-McMoRan (MCX) lost 5.52%, Archer-Daniels-Midland (ADM) declined 3.51%, Tesla (TSLA) slipped 2.50%, and Apple (AAPL) was down 1.53%.

Baidu (BIDU) fell 6.54% even though the company's second-quarter earnings exceeded expectations.

On the other hand, Gap Inc (GPS) rose 2.0%, Best Buy (BBY) climbed 1.61%, and Ralph Lauren (RL) was up 1.42%.

European stocks closed mixed. The DAX 40 gained 0.53%, while the CAC 40 declined 0.19%, and the FTSE 100 was down 0.88%.

Gold price dropped $13 to $1,724 an ounce.