Wall Street ends in a sea of red on geopolitical and US economic concerns

• DJIA lost a total 141.81 points, or 0.5%, to end at 26,806.18.
• Nasdaq Composite index fell back 118.84 points, or 1.5%, to 7,993.63.
• S&P 500 index dropped 25.16 points, or 0.8%, at 2,966.62.

A number of geopolitical factors circulating above investor's heads as well as poor US data had led to a sell-off on Wall Street on Tuesday with the Dow Jones Industrial Average, or DJIA, losing around 140 points and the S&P 500 dropping 25 points. 

The major story in markets has been the announcement from House Speaker Nancy Pelosi who is implementing impeachment proceedings against US President Donald Trump. More on that here:

• US House Speaker Pelosi: House to open a formal Trump impeachment enquiry

Meanwhile, the initial sell-off in US stocks followed Trump talking at the United Nations after he said that he wouldn’t accept a bad trade deal with China. The Dow completed a drop of around 150 points on the statements.

U.S. Treasury prices rise on Tuesday

We also U.S. Treasury prices rise on Tuesday which sent the 10-year Treasury note yield down by 7.2 basis points to 1.632%, marking its biggest daily drop in a month. This followed September U.S. Conference Board’s consumer confidence index falling to a 3-month low to 125.1 from 133.3 which is a testament to the trade war risks have are harming key business sectors such as manufacturing and farming and pose a threat to U.S. economic expansion.

Subsequently, on the day, The DJIA lost a total 141.81 points, or 0.5%, to end at 26,806.18 while the benchmark S&P 500 index dropped 25.16 points, or 0.8%, at 2,966.62. The Nasdaq Composite index fell back 118.84 points, or 1.5%, to 7,993.63.

DJIA levels

The index was hurtling back to the downside yet again on Tuesday, breaking back below the 21 and 50 4-hour moving averages to print a fresh low since September 10th and closing over-0.50% lower than Monday's close. The bears now have their sights on the 200-hour MA and then the 50 and then the 200-DMA - The May and June lows on the wide in the 24700s come as a double-bottom target.