Dow logs steepest daily skid in 2 1/2 months but tech-led Nasdaq stages big comeback to pare worst of Tuesday's slump
U.S. stocks finished out a wild Tuesday session lower but investors bought into the drop, helping to pare the worst of the day's steep drop. Still, the Dow Jones Industrial Average booked its worst day since Feb. 26, ending down 472 points, or 1.4%, at 34,269. At its lows, the blue-chip index was down by as many as 668 points before paring those losses. The S&P 500 index closed 0.9% lower to 4,152, while the Nasdaq Composite Index ended down less than 0.1% at 13,389, recovering from an intraday nadir at 13,107.67. Initial selling was primarily focused on technology and tech-related names, with the downturn blamed on renewed fears of a surge in inflation as the economy recovers from the COVID pandemic. Tech shares, however, saw some bids off their lows on Tuesday as investors saw buying opportunities off the day's low.
-Mark Decambre; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 11, 2021 16:12 ET (20:12 GMT)
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