Stocks posted their steepest one-day decline this year, finishing in negative territory for the fifth-straight session Tuesday, amid concerns over the health of the global economy and the start of earnings season.
The Dow Jones Industrial Average tumbled 213.66 points, or 1.65 percent, to finish at 12,715.93, logging its biggest one-day drop this year, led by BofA and Caterpillar . The blue-chip index is down for the fifth-consecutive session.
The S&P 500 slumped 23.61 points, or 1.71 percent, to close at 1,358.59, below the widely-followed technical level of 1,370. The Nasdaq dropped 55.86 points, or 1.83 percent, to end at 2,991.22.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, jumped above 20.
All 10 key S&P sectors finished firmly in the red, led by consumer discretionary and banks.
The selloff started last week, initially fueled by doubts over the strength of the economy and the Fed's willingness to continue providing further stimulus to bolster the recovery.Page 1 of 4 | Next Page