Stocks fell Tuesday morning as the markets struggled to sustain a comeback rally following weeks of losses. The Dow Jones Industrial Average fell 220 points, or 0.7%. The S&P 500 dipped 1.3%, and the Nasdaq Composite dropped 2.2%.
Stocks surge thanks to big rally for JPMorgan Chase and other banks
Investors took a break from selling in May and going away, for one day at least. Stocks soared Monday, as positive news about earnings from banking powerhouse JPMorgan Chase and comments from President Joe Biden about the possibility of lifting some US tariffs on China boosted sentiment on Wall Street.
The stock market is acting like it believes Jay Powell: Morning Brief
The stock market isn’t trading like it’s expecting the Federal Reserve will swoop in to save it. The S&P 500 has tumbled by more than 17% from a January record high through Monday’s close.