The Dow Jones Industrial Average closed at 27,081.36 on Tuesday with a loss of 879.44 points or -3.15%. The S&P 500 closed at 3,128.21 for a loss of 97.68 points or -3.03. The Nasdaq Composite closed at 8,965.61 for a loss of 255.67 points or -2.77%. The VIX Volatility Index was higher at 27.85 for a gain of 2.82 points or 11.27%.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Tuesday’s market movers” data-reactid=”12″>Tuesday’s market movers
U.S. indexes continued to fall Tuesday, pushing losses for the year further negative. Investors fled equities for safe havens on rising coronavirus infections. The 10-year U.S. Treasury hit a record low as prices climbed. The Dow Jones reported its third-worst single-day decline in history. In China, the number of infected people was stable at 77,666. In South Korea, cases increased by 144 to 977 and in Italy, cases increased by 94 to 323.
On the earnings calendar:
- Home Depot (NYSE:HD) reported revenue of $25.78 billion, down 2.7% year over year and in line with estimates. Fourth-quarter GAAP earnings of $2.28 per share beat estimates by 17 cents.
- MoneyGram (NASDAQ:MGI) reported revenue of $323.7 million, down 6.4% year over year and missing estimates by $5.36 million. A fourth-quarter GAAP earnings loss of 16 cents per share missed estimates by 8 cents and non-GAAP earnings of 1 cents beat estimates by 3 cents.
- Other earnings releases Tuesday included: Salesforce.com (NYSE:CRM), Macy’s (NYSE:M) and Virgin Galactic (NYSE:SPCE).
In other news:
- The Democrats will hold another presidential debate in South Carolina.
- Bob Iger announced he was leaving the CEO role at Disney (NYSE:DIS).
- The S&P/Case-Shiller Home Price Index was unchanged in December and reported a year-over-year increase of 2.9%.
- The FHFA House Price Index increased 0.6% in December following an increase of 0.3%
- The Conference Board’s Consumer Confidence Index increased to 130.7 in February from 130.4.
- The Treasury held auctions for 52-week bills at a rate of 1.27% and two-year notes at a rate of 1.188%.
In the S&P 500, energy, materials and industrials led losses. In the Dow Jones Industrial Average, the following stocks led losses:
- UnitedHealth (NYSE:UNH) -5.18%
- Boeing (NYSE:BA) -4.33%
- Apple (NASDAQ:AAPL) -3.39%
- Visa (NYSE:V) -4.93%
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Small-cap stocks” data-reactid=”42″>Small-cap stocks
In small caps, the Russell 2000 closed at 1,571.90 for a loss of 56.21 points or -3.45%. The S&P 600 closed at 946.92 for a loss of 33.13 points or -3.38%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,211.83 for a loss of 357.34 points or -3.38%. The Dow Jones U.S. Small-Cap Value Index closed at 9,093.80 for a loss of 341.71 points or -3.62%.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Other notable indexes” data-reactid=”44″>Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,951.94 for a loss of 70.63 points or -3.49%; the S&P 100 at 1,398.12 for a loss of 42.20 points or -2.93%; the Nasdaq 100 at 8,834.86 for a loss of 244.77 points or -2.70%; the Russell 3000 at 1,834.59 for a loss of 58.41 points or -3.09%; the Russell 1000 at 1,733.27 for a loss of 54.73 points or -3.06%; the Wilshire 5000 at 32,029.47 for a loss of 1,022.53 points or -3.09%; and the Dow Jones U.S. Select Dividend Index at 706.87 for a loss of 23.87 points or -3.27%.
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