U.S. stocks on Tuesday fought to rebound from Monday’s rout, but failed as the Dow Jones Industrial average trended lower for most of the session and closed in the red.

The Dow Jones Industrial average lost 50.63 points, or 0.15%, to 33,919.84. The S&P 500 shed about 0.1% to 4,354.19, following its worst day since May on Monday. However, the Nasdaq Composite rose 0.2% to 14,746.40 as investors bought some major tech shares like Apple on the dip.

Stocks roared back earlier in Tuesday’s session with the Dow up more than 300 points at one point before giving up all those gains as trading continued.

Asian markets were stable overnight, helping sentiment in the U.S. initially after fears grew Monday that the liquidity crisis at Chinese developer Evergrande would lead to a global contagion. Hong Kong’s Hang Seng Index rose 0.5% after dropping more than 3% on Monday.

On Monday, the S&P 500 slid 1.7% for its worst day since May 12. The Dow…

Read more…

Share.

Comments are closed.