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Julie Young
Julie Young
Articles (1527) 

US Indexes Close Lower Tuesday

Nasdaq down 4.11%

The Dow Jones Industrial Average closed at 27,500.89 on Tuesday with a loss of 632.42 points or -2.25%. The S&P 500 closed at 3,331.84 for a loss of 95.12 points or -2.78%. The Nasdaq Composite closed at 10,847.69 for a loss of 465.44 points or -4.11%. The VIX Volatility Index was higher at 31.46 for a gain of 0.71 points or 2.31%.

Tuesday's market movers

U.S. indexes fell for a third day. Tech continued its sharp selloff. The S&P 500 energy sector was also a detractor. In the Nasdaq 100, Tesla (NASDAQ:TSLA) led losses, down 21.06% after the S&P 500 announced reconstitution. Tesla was not added to the S&P 500, instead Catalent Inc. (NYSE:CTLT), Etsy (NASDAQ:ETSY) and Teradyne (NASDAQ:TER) will replace H&R Block (NYSE:HRB), Coty (NYSE:COTY) and Kohl's (NYSE:KSS).

The S&P 500 energy sector was down 3.73% Oil prices reported three-month lows. OPEC is also potentially planning to increase its output.

Economic reports affecting market trading included the following:

  • The NFIB Business Optimism Index increased to 100.2 in August from 98.8.
  • The Treasury held auctions for three-month bills at a rate of 0.115%, six-month bills at a rate of 0.125%, 119-day bills at a rate of 0.120%, 42-day bills at a rate of 0.105%, three-year notes at a rate of 0.170% and 52-week bills at a rate of 0.140%.
  • Consumer credit outstanding increased by $12.25 billion in July following an increase of $11.4 billion.

In the S&P 500, the following stocks led gains and losses:

  • General Motors (NYSE:GM) +7.91%
  • Under Armour (NYSE:UAA) +5.08%
  • Apache Corp. (NASDAQ:APA) -10.68%
  • Diamondback Energy (NASDAQ:FANG) -9.96%
  • KLA Corp. (KLAC) -9.77%
  • Occidental Petroleum (OXY) -9.68%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,504.59 for a loss of 30.71 points or -2.00%. The S&P 600 closed at 870.50 for a loss of 21.31 points or -2.39%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,417.05 for a loss of 233.19 points or -2.19%. The Dow Jones U.S. Small-Cap Value Index closed at 7,087.71 for a loss of 205.86 points or -2.82%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,855.17 for a loss of 42.69 points or -2.25%; the S&P 100 at 1,546.90 for a loss of 49.20 points or -3.08%; the Nasdaq 100 at 11,068.26 for a loss of 553.87 points or -4.77%; the Russell 3000 at 1,940.99 for a loss of 56.89 points or -2.85%; the Russell 1000 at 1,845.55 for a loss of 55.07 points or -2.90%; the Wilshire 5000 at 33,924.33 for a loss of 1,005.90 points or -2.88%; and the Dow Jones U.S. Select Dividend Index at 595.39 for a loss of 12.39 points or -2.04%.

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About the author:

Julie Young
Julie Young is a financial writer with comprehensive experience in the financial services industry. She writes about investments, investment products, financial market news and economic trends. Julie has a Master of Science in finance from Boston College and a Bachelor of Science in finance from the University of Arkansas.

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