Stocks closed broadly lower on Wall Street Tuesday, extending the market’s recent string of losses, as traders ponder the Federal Reserve’s next moves in its campaign to cool stubbornly hot inflation.
The S&P 500 fell 1.4 percent, its fourth straight drop. The Dow Jones Industrial Average fell 1 percent and the Nasdaq composite lost 2 percent.
Technology stocks, communication companies and retailers had some of the biggest losses. Apple fell 2.5 percent, Disney slid 3.8 percent and AutoZone dropped 2.8 percent.
Small company stocks also fell, pulling the Russell 2000 index 1.5 percent lower. The major indexes are on pace for a weekly loss after posting two straight weekly gains….
Source: The Epoch Times
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