|Day's Range||24,421.05 - 24,687.62|
|52 Week Range||23,344.52 - 26,951.81|
Major indexes are off more than 1% as tech worries drag the markets lower. Yahoo Finance’s Seana Smith is at the New York Stock Exchange.
CEO confidence in the economy for the next year is at its lowest level in 12 months, adding to a growing body of evidence and the market's negative trend is telling investors something bad about the economy.
The Dow Jones Industrial Average index fell 571 points on Tuesday, after shares in retailer Target dropped 10.8 per cent and tech stocks continued to decline in early trading. The Dow’s 2 per cent decline means it has wiped out all gains made in the year so far. Experts said the slide was linked to sustained global trade war fears and Brexit concerns, as well as the rout in global tech stocks over recent days.
The S&P 500 index on Tuesday was uncomfortably to a close in correction, defined as a decline of at least 10% from a recent peak. The S&P 500 was trading 2.1% lower at 2,634, putting the gauge about 10% from a recent high at 2,930.75 hit on Sept. 20, based on FactSet data. Tuesday's drop for the broad-market benchmark was sweeping, with all but one of its 11 sectors (utilities up 0.5%) trading in negative territory, and losses lead by declines of more than 3% in energy and information technology. Meanwhile, the Dow Jones Industrial Average was down 587 points, or 2.3%, and the Nasdaq Composite Index shedding 2.8% at 6,832.
U.S. stocks on Tuesday sank at the open, with the Dow Jones Industrial Average , S&P 500 index and the Nasdaq Composite Index all erasing their gains for 2018, underscoring a withering rout for stocks since October that has thus far been underpinned by a steady retreat in technology and internet-related stocks. The Dow was down 575 points, or 2.3%, at 24,449, the S&P 500 index sank 2 at 2,637, and the tech-oriented Nasdaq Composite Index retreated a sharper 2.5% at 6,850, declining the sharpest among the main U.S. equity benchmarks. For the year, the Dow was down 1.1%, the S&P 500 showed a year-to-date loss of 1.4%, while the Nasdaq was down 0.8%. Tuesday's tumble comes after disappointment over quarterly results from Target Corp. . Meanwhile, Apple Inc.'s stock was on track to close in bear-market territory for the first time in years, defined as a drop of at least 20% from a recent peak.
U.S. stock-index futures on Tuesday were set to extend a pre-Thanksgiving rout that has been fueled mostly by a selloff in shares of technology and internet-related companies.
Tech stocks sink again, erasing market's gains for the year; Dow Jones Industrial Average drops 500 points.
Paul Tudor Jones, a hedge-fund luminary, says he’s stress-testing his portfolio of corporate debt because he expects a tumultuous road ahead for that market segment.
Builders broke ground on more homes, but applied for fewer permits to start construction in the future, more of the same sluggish pace of construction that’s plagued the housing market for years.
Tuesday's Market Minute The Dow Jones Industrial Average is falling triple digits for the second straight session. The Nasdaq is leading losses as the tech-heavy index pushes further into correction territory.
Consumer spending is strong in 2018 but will the trend continue in the new year. Yahoo Finance's Adam Shapiro, Julie Hyman, Andy Serwer and Gabriela Santos, JPMorgan Global Market Strategist discuss.