Global Market Turmoil Hits U.S. Stocks Amid Tech Slump and Oil Slide

U.S. stocks declined alongside global markets on Tuesday due to a weak sales forecast from chipmaker ASML and sliding crude oil prices. Tech shares, particularly in the U.S. chip sector, were hit hard by ASML's unexpected earnings report. Energy stocks also suffered as oil prices dropped following easing supply tensions in the Middle East.

U.S. stocks mirrored world markets, tumbling on Tuesday as chipmaker ASML's weak sales forecast dragged tech shares down, while slipping crude oil prices hit energy stocks. The key indexes, S&P 500, Dow, and Nasdaq, edged lower from Monday's highs, particularly under pressure from a tech-heavy market.

Goldman Sachs and Citigroup posted strong profits, yet the drag from ASML, whose disappointing forecast stunned the U.S. chip sector, overshadowed positive earnings. 'The U.S. stock market's tech weighting indicates broader market trends,' explained Rob Haworth of U.S. Bank Wealth Management.

As crude prices fell further, disinflationary effects were highlighted by analyst Tim Ghriskey, linked to Middle East supply dynamics. Investor focus remained on the ECB's looming rate decision, amid dwindling global demand spotlighted by falling oil and soft manufacturing data.

(With inputs from agencies.)