Here's What Happened to the Stock Market on Tuesday.
All major US indexes ended in the red on Tuesday after posting significant gains on Monday, according to CNBC.
- The Dow Jones Industrial Average lost 396.85 points, or 1.51 percent, to close at 25,890.18.
- The S&P 500 lost 1.08 percent to close at 3,145.32.
- The Nasdaq Composite lost 0.86 percent to close at 10,343.89.
Shares of large tech companies lost steam and closed far off from their session high. Netflix, Apple, Microsoft, Facebook, and Alphabet all surrendered gains from earlier in the session by closing bell.
Travel stocks also took a hit. Carnival Corp. fell 6.66 percent and Delta Air Lines fell 5.03 percent. Investors are growing more concerned about the resurgence of coronavirus cases in the US and their effect on economic recovery.
Weekly mortgage applications data are set to be released Wednesday morning.