Late-afternoon sell-off steers US stocks toward lower close
A steep drop in Walmart's stock and losses in other sectors pulled U.S. indexes broadly lower Tuesday, placing the market on course to snap a six-day winning streak. A late-afternoon sell-off wiped out early gains by technology companies. Grocery store operators and other consumer-focused companies accounted for much of the drag on the market. Investors were sizing up the latest quarterly earnings and deal news following a long holiday weekend.
KEEPING SCORE: The Standard & Poor's 500 index fell 18 points, or 0.7 percent, to 2,714 as of 3:32 p.m. Eastern Time. The Dow Jones industrial average slid 277 points, or 1.1 percent, to 24,941. The Nasdaq lost 12 points, or 0.2 percent, to 7,226.