BUSINESS Dow slides 473 points in worst session since late February

BUSINESS

Dow slides 473 points in worst session since late February

Xinhua

07:57, May 12, 2021

NEW YORK, May 11 (Xinhua) -- U.S. stocks sank on Tuesday to log a two-day losing streak so far this week, as selling pressure continued on Wall Street.

The Dow Jones Industrial Average fell 473.66 points, or 1.36 percent, to 34,269.16, its worst day since Feb. 26. Earlier in the session, the 30-stock gauge tumbled more than 600 points at the lows. The S&P 500 decreased 36.33 points, or 0.87 percent, to end at 4,152.10. The Nasdaq Composite Index lost 12.43 points, or 0.09 percent, to 13,389.43.

Ten of the 11 primary S&P 500 sectors ended in red, with energy and financials down 2.56 percent and 1.67 percent, respectively, leading the laggards. Materials eked out a gain of 0.35 percent, the lone gaining group.

U.S.-listed Chinese companies traded mostly higher with eight of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

On Monday, U.S. equities closed noticeably lower, which saw the tech-heavy Nasdaq drop more than 2.5 percent.

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