US stocks decline due to disappointing economic data

US stocks fell slightly on Tuesday, as Wall Street looked to regain its footing after an uneven start to the month.

The Dow Jones Industrial Average fell 126 points, or 0.3%. The S&P 500 fell 0.2%, and the Nasdaq Composite lost 0.1%.

The move comes after the Dow Jones Index fell more than 115 points, or 0.3%, on the first trading day of June, while the S&P 500 and Nasdaq Composite rose modestly on Monday, according to CNBC.

Weak manufacturing data weighed on market sentiment, as investors wait to see if growth can hold while the US Federal Reserve waits for inflation to fall enough to cut interest rates.

“I think the indicators themselves are a bit flawed at the moment,” said Savita Subramanian, head of US equities and quantitative strategy at Bank of America.

She continued, “I almost feel that when you peel the onion and look at the underlying stock market, what makes me feel better is that earnings are coming in positive for a wide range of companies in the S&P, and it’s not just the great seven that are doing that.” “All the work is for the index.”