Stocks closed lower on Wall Street, led by drops in technology companies and banks. The S&P 500 gave back 0.7%, pulling the index further below the record high it set on Friday.
Small-company stocks, which have been beating the rest of the market in recent months, fell more than other sectors. Investors are focusing on company earnings reports that are steadily coming out this week. On average, analysts expect profits across the S&P 500 to be up 24% from a year earlier, according to FactSet.
On Tuesday:
The S&P 500 fell 28.32 points, or 0.7%, to 4,134.94.
The Dow Jones Industrial Average fell 256.33 points, or 0.8%, to 33,821.30.
The Nasdaq fell 128.50 points, or 0.9%, to 13,786.27.
The Russell 2000 index of smaller companies fell 43.79 points, or 2% to 2,188.21.
For the week
The S&P 500 is down 50.53 points, or 1.2%.
The Dow is down 379.37 points, or 1.1%.
The Nasdaq is down 266.07 points, or 1.9%.
The Russell 2000 is down 74.46 points, or 3.3%.
For the year:
The S&P 500 is up 378.87 points, or 10.1%.
The Dow is up 3,214.82 points, or 10.5%.
The Nasdaq is up 897.99 points, or 7%.
The Russell 2000 is up 213.36 points, or 10.8%.
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