The Nasdaq fell more than 2% on Tuesday as steep declines in megacap growth stocks pushed Wall Street below record trading levels, with investors seeking shelter in more defensive parts of the market. All the 11 major S&P 500 sectors were down, with technology, communication services and consumer discretionary falling more than 2% each. "When we have pauses or pullbacks people tend to move out of growth stocks into more defensive names." ET, the Dow Jones Industrial Average was down 235.73 points, or 0.69%, at 33,877.50, the S&P 500 was down 56.17 points, or 1.34%, at 4,136.49 and the Nasdaq Composite was down 379.74 points, or 2.73%, at 13,515.38. The S&P index recorded 69 new 52-week highs and no new low, while the Nasdaq recorded 66 new highs and 87 new lows.

Source: Mint May 04, 2021 16:05 UTC