Stocks Slide As Global Jitters Mount -- U.S. Commentary

(RTTNews) - U.S. stocks remained under pressure Tuesday amid global economic jitters.

Disappointing manufacturing data from China and a surprise rate cut in Australia prompted investors to limit risk by moving further out of stocks.

Falling crude oil prices dented energy stocks, but Apple (AAPL) shares rose to snap a prolonged losing skid.

The S&P 500 dropped 18 points, or 0.9%, to close at 2,063 while the Dow eased 139 points, or 0.8%, to end at 17,751. Both indices posted a 3-week closing low.

Tech shares also continued to struggle, as Nasdaq skidded 54 points, or 1.1%, to close at 4,763.

In stocks on the move, On Deck Capitol (ONDK) plunged 33.9 percent on a big earnings miss.

Meanwhile, Halliburton Company (HAL) reported a loss from continuing operations of $2.4 billion, or $2.81 per share, in the first quarter of 2016, compared to a loss of $639 million or $0.75 per share, previous year. Shares fell 3.5 percent.

Drug maker Pfizer Inc. (PFE) earnings per share and revenue for the quarter beat analysts' expectations. The company also raised its full-year guidance to reflect the strong operational performance.

German auto giant BMW Group (BMW.L, BAMXF.PK, BAMXY.PK) reported higher net profit in its first quarter. However, EBIT, a key earnings metric, declined on weak automotive revenues.

Swiss financial services firm UBS AG (UBS) reported sharply lower profit in its first quarter.