Stocks fell again on Wall Street, posting their third loss in a row as traders worry that high interest rates are here to stay for a while.
The S&P 500 fell 1.1% Tuesday, bringing its loss in the past three days to 5.1%. The Dow Jones Industrial Average and the Nasdaq also fell. Energy companies fell along with sliding crude oil prices. Technology stocks and industrial companies were also weak.
Best Buy was a bright spot, gaining ground after reporting results for its latest quarter that were much better than analysts were expecting. The yield on the 10-year Treasury held steady.
The S&P 500 fell 44.45 points, or 1.1%, to 3,986.16.
The Dow Jones Industrial Average fell 308.12 points, or 1%, to 31,790.87.
The Nasdaq fell 134.53 points, or 1.1%, to 11,883.14.
The Russell 2000 index of smaller companies fell 27.35 points, or 1.5%, to 1,855.59.
For the week:
The S&P 500 is down 71.50 points, or 1.8%.
The Dow is down 492.53 points, or 1.5%.
The Nasdaq is down 258.57 points, or 2.1%.
The Russell 2000 is down 44.24 points, or 2.3%.
For the year:
The S&P 500 is down 780.02 points, or 16.4%.
The Dow is down 4,547.43 points, or 12.5%.
The Nasdaq is down 3,761.83 points, or 24%.
The Russell 2000 is down 389.72 points, or 17.4%.