Unsettling forecasts from a pair of high-profile retailers combined with lingering concerns about the Federal Reserve sent stocks sharply lower on Tuesday. As Wall Street got back to work after a three-day holiday weekend, the Dow shed almost 700 points and the S&P 500 finished below the 4,000 mark.
The Nasdaq Composite (COMP.IND) finished -2.5%, the S&P 500 (SP500) ended -2.0% and the Dow (DJI) closed -2.1%.
Looking at the closing numbers, the Dow Jones concluded trading at 33,129.59, a decline of 697.10 points. The S&P 500 fell 81.75 points to end at 3,997.34, while the Nasdaq retreated 294.97 points to finish at 11,492.30.
All 11 S&P sectors finished in the red. This was led by a 3.3% fall in Consumer Discretionary. Communication Services, Financials, Industrials and Info Tech all dropped more than 2% as well.
“Stocks, bonds, most commodities, and cryptos fell after the long holiday weekend as the…