Banks lead stocks lower, erasing some of prior day's gains

Banks lead stocks lower, erasing some of prior day's gains

6 years ago
Anonymous $L9wC17otzH

https://apnews.com/6ffb0afafc4a40babb5684462b2dbed8

U.S. stocks declined in morning trading Tuesday, giving up much of the market's gain from a day earlier. Losses in banks, technology stocks and industrial companies outweighed gains elsewhere in the market. Homebuilders slumped on renewed concerns that the outlook for home sales is dimming. Smaller-company stocks fell more than the rest of the market. Bond prices rose, sending yields sharply lower.

KEEPING SCORE: The S&P 500 index fell 18 points, or 0.7 percent, to 2,771 as of 11:12 a.m. Eastern Time. The Dow Jones Industrial Average dropped 171 points, or 0.7 percent, to 25,655. The Nasdaq composite lost 54 points, or 0.7 percent, to 7,387. The Russell 2000 index of smaller-company stocks gave up 18 points, or 1.2 percent, to 1,530.