U.S. stocks finished broadly lower Tuesday, with the Dow Jones slipping triple digits.
U.S. stocks were down across the board Tuesday, as the Dow Jones Industrial Average (NYSEARCA:DIA) declined triple digits amid declines in almost every sector.
The blue-chip Dow Jones index fell 109.41 points, or 0.5%, to close at 24,180.64. Twenty-one of 30 index members finished in negative territory, with Walt Disney and Intel leading the declines.
The large-cap S&P 500 Index (NYSEARCA:SPY) declined 0.4% to settle at 2,629.57. Ten of 11 industries recorded declines, with telecommunication services plunging 1.8% and utilities falling 1.2.%.
Interestingly, information technology was the lone gainer, adding 0.2% as a sector. Tech shares have been hit hard by selloffs as of late.
Meanwhile, the technology-heavy Nasdaq Composite Index (NYSEARCA:QQQ) finished down 0.2% at 6,762.22.
The Chicago Board Options Exchange (CBOE) Volatility Index (NYSEARCA:VXX) declined for the first time in seven days, falling 0.3% to 11.33. The so-called “fear index” has been in a perpetual uptrend since the end of November, although the overall score remained very low by historical standards.
In terms of economic data, the U.S. services economy cooled in November from multi-decade highs, but remained on solid footing overall. The Institute for Supply Management’s non-manufacturing PMI declined to 57.4 in November from 60.1 the month before. Analysts in a median estimate called for a reading of 59.0.
The Final Word: Jobs data will make headlines in the latter half of the week, beginning on Wednesday with the ADP private payrolls report. The Department of Labor will issue the official nonfarm payrolls report Friday at 8;30 a.m. ET.