After climbing to another intraday record, shares plunged $6 to close in the red.
From MarketWatch’s “Dow ends nearly 400 points lower, U.S. stocks swoon, on doubts of quick economic recovery” posted Tuesday afternoon.
U.S. stocks on Tuesday ended sharply lower, with the S&P 500 snapping its 5-day win streak, as investors grew wary of the economic, public-health and policy response to the coronavirus pandemic.
Equities lost steam after the White House reiterated a call to cap the next round of COVID-19 stimulus at $1 trillion or less, but accelerated their losses in the final hour of trade, after several Federal Reserve officials warned of challenges to the economy as infection rates soar across several states.
The Dow Jones Industrial Average tumbled 396.85 points, or 1.5%, to end at 25,890.18, the S&P 500 index shed 34.40 points, or 1.1%, closing at 3,145.32 and end a 5-session win steak; while the Nasdaq Composite Index fell 89.76 points, or 0.9%, to finish at 10,343.89, after carving out an intraday 10,518.98 record.
My take: No particular problem with Apple, which outperformed the indices.