NEW YORK, New York - U.S. and global stock markets closed with a broad selloff on Tuesday, driven by heavy losses in technology shares and heightened volatility, though European benchmarks showed pockets of resilience.

Investors digested a wave of economic data and corporate earnings, leading to a cautious "risk-off" sentiment across most major indices.

On Wall Street, the tech-heavy NASDAQ Composite led the declines, falling 220.03 points, or 0.84 percent, to settle at 25,870.71.

The broader Standard and Poor's 500 dropped 49.44 points, or 0.67 percent, closing at 7,353.61.

The Dow Jones Industrial Average shed 322.24 points, or 0.65 percent, ending the session at 49,363.88.

The CBOE Volatility Index (VIX) , often referred to as Wall Street's "fear gauge," jumped 0.24 points, or 1.35 percent, to 18.06, indicating rising anxiety among traders.

Small-cap stocks also underperformed, with the Russell 2000 Index tumbling 28.03 points, or 1.01 percent, to 2,747.07. The NYSE Composite Index fell 102.90 points, or 0.45 percent, to 22,797.67, while the NYSE American Composite Index declined sharply by 85.13 points, or 0.92 percent, finishing at 9,185.11.

Across the Atlantic, European markets showed a mixed but slightly positive tilt. Germany's DAX P advanced 92.73 points, or 0.38 percent, closing at 24,400.65.

However, France's CAC 40 slipped 5.73 points, or 0.07 percent, to 7,981.76. The EURO STOXX 50 I eked out a small gain of 2.16 points, or 0.04 percent, to 5,851.16, while the Euronext 100 Index rose 0.81 points, or 0.05 percent, to 1,798.85.

Belgium's BEL 20 added 4.59 points, or 0.08 percent, finishing at 5,427.82.

In London, the Cboe UK 100 gained 3.39 points, or 0.33 percent, to 1,027.42, and the FTSE 100 inched up 6.80 points, or 0.07 percent, to 10,330.55.

Asian markets faced steeper losses earlier in the day. Japan's Nikkei 225 plummeted 1,021.64 points, or 1.99 percent, to close at 59,528.95. South Korea's KOSPI Composite Index dropped 143.87 points, or 1.98 percent, to 7,127.79. Australia's S&P/ASX 200 fell 116.90 points, or 1.36 percent, to 8,487.80, with the ALL ORDINARIES also down 120.20 points, or 1.36 percent, at 8,709.30.

New Zealand's S&P/NZX 50 INDEX GROSS sank 206.30 points, or 1.59 percent, to 12,768.02. Hong Kong's HANG SENG INDEX lost 142.41 points, or 0.55 percent, settling at 25,655.44, while the STI Index in Singapore declined 40.01 points, or 0.79 percent, to 5,032.33.

India's S&P BSE SENSEX dropped 389.15 points, or 0.52 percent, to 74,811.70. Brazil's IBOVESPA fell sharply, losing 2,696.95 points, or 1.52 percent, to 174,278.86, while Argentina's MERVAL tumbled 41,514.00 points, or 1.47 percent, to 2,774,731.25. Chile's S&P IPSA declined 116.92 points, or 1.12 percent, to 10,350.86.

In other notable moves, the SSE Composite Index in Shanghai fell 18.56 points, or 0.45 percent, to 4,150.98 on volume of 3.034 billion shares. The S&P/TSX Composite index in Canada lost 92.11 points, or 0.27 percent, to 33,741.24. Mexico's IPC MEXICO bucked the trend, rising 150.43 points, or 0.22 percent, to 68,555.63.

Malaysia's FTSE Bursa Malaysia KLCI slipped 5.46 points, or 0.32 percent, to 1,721.81, and Indonesia's IDX COMPOSITE dropped 38.50 points, or 0.60 percent, to 6,332.18. Taiwan's TWSE Capitalization Weighted Stock Index edged down 131.76 points, or 0.33 percent, to 40,043.80.

In the Middle East, Israel's TA-125 fell 1.94 points, or 0.05 percent, to 4,252.39.

Egypt's EGX 30 Price Return Index stood out as a strong performer, surging 768.00 points, or 1.48 percent, to 52,775.00.

However, in Africa, South Africa's Top 40 USD Net TRI Index fell 137.95 points, or 1.99 percent, to 6,787.76. 

Forex Market Update: Dollar Edges Higher Against Majors; Yen and Euro Drift Lower

The U.S. dollar showed a firmer tone against major currencies in the latest foreign exchange trading session, as investors weighed shifting interest rate expectations and global growth concerns. Currency movements were largely subdued, with most pairs trading within narrow ranges.

The euro softened marginally against the greenback. The EUR/USD pair traded at 1.1600, down 0.00049, representing a decline of 0.04 percent. The session saw a high of 1.1613 and a low of 1.1593.

Sterling managed a slight gain against the dollar. GBP/USD rose 0.00016 to 1.3396, an increase of 0.01 percent, with a daily range between 1.3406 and 1.3378, as traders digested the latest UK economic data.

The Japanese yen lost ground against the dollar. USD/JPY climbed 0.14 points higher to 158.93, reflecting a gain of 0.09 percent for the greenback. The pair traded between 159.11 and 158.82.

The Swiss franc weakened modestly versus the dollar. USD/CHF added 0.00071 to reach 0.78963, a move of 0.09 percent. The pair's high for the session was 0.7901, while the low stood at 0.7884.

The Canadian dollar also lost a step against its U.S. counterpart. USD/CAD advanced 0.00127 to 1.3757, an increase of 0.09 percent, trading within a band of 1.3761 to 1.3742.

Commodity currencies were slightly weaker. The Australian dollar dipped against the U.S. dollar, with AUD/USD falling 0.00042 to 0.7103, a decline of 0.06 percent. The pair saw a high of 0.7113 and a low of 0.7087.

The New Zealand dollar also edged lower. NZD/USD slipped 0.00019 to 0.5832, down 0.03 percent, after touching a daily high of 0.5859 and a low of 0.5814.

Meanwhile, the Chinese yuan held steady against the dollar. USD/CNY was unchanged on the day at 6.8150, showing no movement in percentage terms. The pair traded between 6.8155 and 6.8145.

(This report incorporates quotes retrieved with the assistance of artificial intelligence).

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