US stock markets closed lower on Tuesday, snapping an eight-day winning streak as Tesla shares dropped and investors took a cautious approach ahead of a round of important data on inflation.
The blue-chip S&P 500 share index, which on Monday closed out its longest unbroken series of all-time highs since 1997, closed down 0.3 per cent. The technology-focused Nasdaq Composite was 0.6 per cent lower at the bell as both Wall Street indices were dragged down by a fall in the shares of Tesla.
Shares of the electric carmaker slid after Twitter users polled by co-founder Elon Musk voted that he should sell 10 per cent of his stake in the company. Its shares declined 12 per cent on Tuesday, taking their two-day drop to more than 16 per cent, wiping $140bn off of its market capitalisation.