US stocks close lower as reopening plays lead decline

U.S. stocks fell for a second session on Tuesday, as concerns about rising coronavirus cases globally offset healthy U.S. corporate earnings reports for the first quarter.

The Dow Jones Industrial Average fell 256.33 points, or 0.8%, to finish at 33,821.30. The S&P 500 fell 28.32 points, or 0.7%, to close at 4,134.94. The Nasdaq Composite shed 128.50 points, or 0.9%, to end at 13,786.27.

Reopening plays such as airlines and cruise line operators led losses on Tuesday. United Airlines plunged 8.5% after the carrier reported its fifth consecutive quarterly loss and said that business and international travel recovery is still far off. American Airlines fell 5.5%, while Carnival and Norwegian Cruise Line both slid over 4%.

The sell-off in shares that are tied to a successful reopening came as the World Health Organization warned that global coronavirus infections were edging toward their highest level in the pandemic.

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