How major US stock indexes fared Tuesday

Stocks closed modestly lower Tuesday on Wall Street after a rally faded in the last few minutes of trading following a sudden drop in the price of crude oil.

Major indexes ended slightly lower after being up more than 3% earlier. The market was coming off an even bigger gain of 7% the day before.

The rally faded after the price of U.S. oil flipped from a gain to a steep loss of more than 9%. It had otherwise been an ebullient day for markets worldwide following encouraging signs that the coronavirus pandemic may be close to leveling off in some of the hardest-hit areas of the world.

On Tuesday:

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The S&P 500 index fell 4.27 points, or 0.2%, to 2,659.41.

The Dow Jones Industrial Average dropped 26.13 points, or 0.1%, to 22,653.86.

The Nasdaq slid 25.98 points, or 0.3%, to 7,887.26.

The Russell 2000 index of smaller company stocks inched 0.39 points higher, or less than 0.1%, to 1,139.17.

For the week:

The S&P 500 is up 170.76 points, or 6.9%.

The Dow is up 1,601.33 points, or 7.6%.

The Nasdaq is up 514.18 points, or 7%.

The Russell 2000 is up 87.12 points, or 8.3%.

For the year:

The S&P 500 is down 571.37 points, or 17.7%.

The Dow is down 5,884.58 points, or 20.6%.

The Nasdaq is down 1,085.35 points, or 12.1%

The Russell 2000 is down 529.30 points, or 31.7%.

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