ALSO READWall Street selloff recede as rise in bond yields pause, tech stocks gain Wall St sell-off: US stocks fall most in 6 yrs, Dow slips 1600 points Tech, bank stocks boost Wall Street to record highs amid tax cut hopes Wall Street drifts lower on last trading day of 2017 Dow Jones opens at record high after Caterpillar's earnings smash estimates
US stocks slipped in volatile trading on Tuesday following the biggest one-day declines for the S&P 500 and Dow in more than six years. Major indexes swung from negative to positive and back after starting the session down 2 percent. The sharp declines in recent days have marked a pullback long-awaited by investors after the market has minted record high after record high. "Put your seatbelts on.
It's going to be a volatile ride for the next several trading sessions," said Chad Morganlander, portfolio manager at Washington Crossing Advisors in Florham Park, New Jersey."Fundamentals are moving forward in a positive way, which gives us confidence that in the long run you'll continue to see higher highs within the markets." The Dow Jones Industrial Average fell 50.94 points, or 0.21 percent, to 24,294.81, the S&P 500 lost 3.44 points, or 0.13 percent, to 2,645.5 and the Nasdaq Composite dropped 3.55 points, or 0.05 percent, to 6,963.98.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)