The three main US stock indices recorded declines at the end of trading on Tuesday, the ninth of November, after gains that continued for more than a week, as the S&P 500 index ended a series of gains that continued for eight consecutive sessions, in the longest series of consecutive gains since April of the year 2019 amid a state of profit-taking in the markets after Positive numbers of quarterly profits for companies, most of which exceeded expectations in the third quarter of the year.

Economic data released by the US economy showed a growth in the Producer Price Index (PPI) by 0.6% in October, in line with expectations on a monthly basis, while the annual index rose to 8.6%.

In terms of the movement of US stocks, Tesla stock led the shares declines in the S&P index, as the stock lost about 12% at closing at levels of $ 1023, on the back of the proposal of the company’s president, Elon Musk, days ago, to sell 10% of his shares in the company on Twitter, to lose the company more than 200 billion dollars of its market value in two sessions.

PayPal’s stock, in turn, lost about 10.46% at closing at levels of $205.42 after the company announced its quarterly results for the third quarter, with profits of $1.11, earnings per share and revenue of $6.18 billion, while it lowered its expectations for revenue at the end of this year after transactions related to eBay declined in Third quarter .

The Dow Jones Industrial Average closed down by about (112) points at the close at 36.319 levels, a loss of about 0.31%, and is now trading in futures for today’s session, Wednesday, at levels of 36,080, down by about 129 points.

On the other hand, the S&P 500 index recorded declines at the close at 4.685 levels, down by about (16) points or 0.35%, and it is now trading in futures at 4.661 levels, down by about 17 points.

While the Nasdaq index recorded losses of (95 points), to close the session at 15.886 points, recording losses of about 0.60%, and it is now trading at 16,151 levels, down by about 61 points.