Big Tech stocks pulled Wall Street down to its worst day in three weeks.
The S&P 500 fell 1% Tuesday, its second straight drop after closing last week at an all-time high. The Dow Jones Industrial Average also lost 1%, and the Nasdaq composite gave back 1.7%.
Apple was one of the heaviest weights on the market. It’s been struggling on worries about sluggish iPhone sales in China. Microsoft, Tesla and other influential stocks also sank. Treasury yields fell after U.S. economic data was weaker than expected. Bitcoin touched a record high before tumbling.
On Tuesday:
The S&P 500 fell 52.30 points, or 1%, to 5,078.65.
The Dow Jones Industrial Average fell 404.64 points, or 1%, to 38,585.19.
The Nasdaq composite fell 267.92 points, or 1.7%, to 15,939.59.
The Russell 2000 index of smaller companies fell 20.60 points, or 1%, to 2,053.71.
For the week:
The S&P 500 is down 58.43 points, or 1.1%.
The Dow is down 502.19 points, or 1.3%.
The Nasdaq is down 335.35 points, or 2.1%.
The Russell 2000 is down 22.69 points, or 1.1%.
For the year:
The S&P 500 is up 308.82 points, or 6.5%.
The Dow is up 895.65 points, or 2.4%.
The Nasdaq is up 928.24 points, or 6.2%.
The Russell 2000 is up 26.63 points, or 1.3%.
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