Tuesday Stock Market Update
The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite fell on Tuesday, according to CNBC.
- The Dow Jones Industrial Average fell 632.42 points, or 2.30 percent, to close at 27,500.89.
- The S&P 500 fell 2.80 percent to close at 3,331.84.
- The Nasdaq Composite fell 4.1 percent to close at 10,847.69.
The Nasdaq is down 10 percent in the past 3 days. Facebook and Amazon both fell more than 4 percent. Apple and Microsoft 6 percent and 5 percent, respectively. Tesla fell 21 percent.“High valuations in the mega-cap stocks are stretched far beyond historical levels,” said one strategist.
On Wednesday keep an eye out for:
- Weekly mortgage applications data
- Job opening numbers are set for release Wednesday
- US 10-year note auctions are due
- European markets are up
- Asian markets are down