Stocks on Wall Street closed lower Tuesday as investors brace for a big week of news on inflation and company earnings reports.
The S&P 500, the Dow Jones Industrial Average, and the Nasdaq fell. Big companies are beginning to report their latest quarterly results this week.
PepsiCo’s profits easily beat analysts’ estimates. Major banks including JP Morgan Chase are on tap later this week. Crude oil prices fell sharply. Bond yields continued flashing a warning signal about a possible recession.
The S&P 500 fell 35.63 points, or 0.9%, to 3,818.80.
The Dow Jones Industrial Average fell 192.51 points, or 0.6%, to 30,981.33.
The Nasdaq fell 107.87 points, or 0.9%, to 11,264.73.
The Russell 2000 index of smaller companies fell 3.83 points, or 0.2%, to 1,728.18.
For the week:
The S&P 500 is down 80.58 points, or 2.1%.
The Dow is down 356.82 points, or 1.1%.
The Nasdaq is down 370.58 points, or 3.2%.
The Russell 2000 is down 41.18 points, or 2.3%.
For the year:
The S&P 500 is down 947.38 points, or 19.9%.
The Dow is down 5,356.97 points, or 14.7%.
The Nasdaq is down 4,380.24 points, or 28%.
The Russell 2000 is down 517.13 points, or 23%.
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