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%.
Before you consider Microsoft, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microsoft wasn't on the list.
While Microsoft currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
