U.S. stocks extend losses; S&P 500 down 2%, Nasdaq off 3%

U.S. stocks fell sharply on Tuesday, extending their losses throughout the session as technology and financial shares led the market lower. The Dow Jones Industrial Average fell 1.7% while the S&P 500 was off 2.1% and the Nasdaq Composite Index shed 3.4% in its biggest one-day drop since early February. The day’s losses were led by the tech sector, which fell 3.6%, and by financials, off 2.1%. The session was the latest example of heavy volatility on Wall Street; Monday’s session represented the biggest one-day percentage gain for the major indexes since August 2015, and the indexes are coming off their worst week in about two years. The day’s losses were broad based, with only four of the 11 primary S&P 500 sectors in positive territory. The gains were led by defensive sectors, with utility stocks up 1.7% and telecommunications up 0.8%.

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From:: Stock Market News

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