US Stocks Fall on Tuesday

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US stocks were lower on Tuesday, with the three major averages falling about 0.6% each, pausing after strong gains the day before prompted by a tech rally. Real estate, materials, industrials and utilities were the worst performing sectors, as traders continue to adjust their bets for rate cuts while awaiting crucial economic data due later in the week including the CPI and the kick off of the earnings season. Meanwhile, the NFIB survey showed sentiment among small business owners improved in December but remained pessimistic while the trade deficit came below forecasts as both exports and imports fell 1.9% in November. On the corporate front, shares of Apple and Tesla were down about 1% and NVIDIA retreated from record highs touched the previous session. Netfliz was also down nearly 1.4% after being downgraded by Citi.


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