Jittery investors dumped shares Tuesday, driving the S&P 500 down over 5% in the first five days of the trading yearThe wintry gloom that has enshrouded Wall Street thickened on Tuesday as major indexes slumped once again. Repeated attempts by equities to rally unraveled amid mounting jitters about an economic slowdown. While further weakness in the financial sector eroded early gains but it was consumer pullback fears in the telecom industry that added fuel to the sell-off in major stock indexes.
On Tuesday, the Dow Jones industrial average finished 238.42 points, or 1.86%, lower at 12,589.07. The broader S&P 500 index was down 25.99 points, or 1.84%, at 1,390.19. The tech-heavy Nasdaq composite index dropped 58.95 points, or 2.36%, to trade at 2,440.51.
On the New York Stock Exchange, 21 stocks traded lower for every 11 that gained ground, while on the Nasdaq, the ratio was 21-9 negative.
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