U.S. stocks fell Tuesday, extending their losses as investors assessed blue-chip companies’ profits and sales prospects.
Investors are looking to companies’ first-quarter results and their outlooks for the rest of the year to gauge whether valuations on stocks are justified.
Strong U.S. economic data has bolstered expectations and fueled the recent rally that has left major indexes hovering close to records.
“There is a general lack of impetus.”Rising Covid-19 infection levels in some countries and signs that the vaccine rollout may be faltering are now tempering that optimism.
The Dow Jones Industrial Average dropped 256.33 points, or 0.8%, to 33821.30, while the S&P 500 fell 28.32 points, or 0.7%, to 4134.94 and the Nasdaq Composite lost 128.50 points, or 0.9%, to 13786.27.
’, ”, Michael Hewson
U.S, CMC Markets, Dow Jones, Nasdaq