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Stocks closed broadly lower on Wall Street Tuesday, erasing some of the market’s gains from last week.
The weakness came as investors debate whether the lifting of lockdowns around the world will drive an economic rebound or just more coronavirus infections.
Stocks of companies whose profits are most closely tied to the strength of the economy had some of the market’s sharpest drops. Treasury yields also fell in a sign of increased caution.
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The S&P 500 fell 60.20 points, or 2.1%, to 2,870.12.
The Dow Jones Industrial Average slid 457.21 points, or 1.9%, to 23,764.78.
The Nasdaq composite lost 189.79 points, or 2.1%, to 9,002.55.
The Russell 2000 index of small company stocks gave up 45.70 points, or 3.5%, to 1,275.54.
For the week:
The S&P 500 is down 59.68 points, or 2%.
The Dow is down 566.54 points, or 2.3%.
The Nasdaq is down 118.77 points, or 1.3%
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The Russell 2000 is down 54.10 points, or 4.1%.
For the year:
The S&P 500 is down 360.66 points, or 11.2%.
The Dow is down 4,773.66 points, or 16.7%.
The Nasdaq is up 29.95 points, or 0.3%
The Russell 2000 is down 392.93 points, or 23.6%.
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