Wall Street had its biggest drop in a month as investors worried about company profits and the state of the economy.
The S&P 500 fell 1.6% Tuesday. The Dow Jones Industrial Average lost 1% and the tech-heavy Nasdaq composite fell twice as much.
First Republic Bank lost half its value after disclosing details for the first time about the exodus of customers it suffered in March. UPS fell after saying a challenging economy could crimp its revenue over the course of the year. Reports on the economy were mixed, with consumer confidence falling again.
On Tuesday:
The S&P 500 fell 65.41 points, or 1.6%, to 4,071.63.
The Dow Jones Industrial Average fell 344.57 points, or 1%, to 33,530.83.
The Nasdaq composite fell 238.05 points, or 2% to 11,799.16.
The Russell 2000 index of smaller companies fell 42.92 points, or 2.4%, to 1,745.95.
For the week:
The S&P 500 is down 61.89 points, or 1.5%.
The Dow is down 278.13 points, or 0.8%.
The Nasdaq is down 273.30 points, or 2.3%.
The Russell 2000 is down 45.55 points, or 2.5%.
For the year:
The S&P 500 is up 232.13 points, or 6%.
The Dow is up 383.58 points, or 1.2%.
The Nasdaq is up 1,332.67 points, or 12.7%.
The Russell 2000 is down 15.29 points, or 0.9%.
Sourse: abcnews.go.com
