The U.S. Commerce Department released durable goods orders data on Tuesday. The U.S. durable goods orders dropped 3.4% in December, missing expectations for a 0.5% increase, after a 2.1% decline in November. November's figure was revised down from a 0.9% decrease.

The decline was driven by falling orders for computers, metals and electrical equipment. Orders for computers plunged 10.4%, orders for primary metals fell 1.5%, orders for communications equipment declined 1.6% and orders for transportation gear decreased 9.2%.

Orders for motor vehicles rose 2.7%.

The U.S. durable goods orders excluding transportation fell 0.8% in December, missing expectations for a 0.5% gain, after a 1.3% decrease in November.

The U.S. durable goods orders excluding defence decreased 0.6% in December.