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5/24, 4:49 PM (Source: TeleTrader)
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US tumbles further, Dow plummets 500 pts

Major stock indexes in the United States extended losses on Tuesday, as the Dow Jones plummeted 503 points at 10:49 am ET, after disappointing data reports.

The country's private sector activity fell to a 4-month low in May, according to the S&P Global's preliminary report. Additionally, US new home sales were down 16.6% in April compared to the previous month.

The Dow Jones lost 1.59% or 505 points at 10:50 am ET. A minute later, the S&P 500 tumbled 2.48%, while the Nasdaq 100 nosedived 3.62% or 434 points at 10:51 am ET. The euro gained 0.34% against the dollar at 10:52 am ET, selling for 1.07277.

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