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Barchart
Barchart
Rich Asplund

Stocks Close Sharply Lower as Chipmakers and Energy Stocks Plunge

United States US Federal Reserve US Steel

The S&P 500 Index ($SPX) (SPY) Tuesday closed down -2.12%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -1.51%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -3.15%.

Stocks sold off sharply on Tuesday, with the S&P 500 posting a 2-week low and the Nasdaq 100 posting a 2-1/2 week low.  Tuesday’s plunge in chip stocks weighed on the overall market. Also, crude oil prices plummeted more than -3% to an 8-month low, which undercut energy stocks. 

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