Stocks fell Tuesday, with the major indexes adding to Monday’s losses as inflation concerns rose.
The Dow’s losses accelerated into the end of the trading day, bringing the index’s decline to nearly 500 points, or about 1.4%. A day earlier, the Dow briefly topped 35,000 for the first time ever before erasing gains to end in the red. The Nasdaq ended just below the flat line after its worst day since March on Monday, with technology stocks sliding as traders rotated away from high growth stocks that could be impacted by rising inflation during the recovery out of the pandemic.
With a strong quarterly earnings season winding down – aside from a couple notable names including Disney (DIS) reporting later this week – investors are taking stock of the next catalysts for markets, with rising prices a key focal point.
According to data from Bank of America,…