U.S. stocks declined sharply on Tuesday, a day after the Dow industrials and S&P 500 closed near record highs, asreported a decline in profit and Twitter fell as insiders got their first opportunity to sell since the company's initial public offering.
"We've had an earnings season that's been better than expectations, but not strong enough to get investors terribly excited about the future, and we may be seeing a little hint of a risk-off trade with nervousness over this Ukrainian story, although it doesn't affect the ability of U.S. companies to make money," said Jerry Webman, chief economist at Oppenheimer Funds.
"Good money can be made in a fairly valued market, but to go higher we're going to need some confirmation on earnings and expected earnings," Webman added. "The primary reason we're down today is we're at all-time highs. If you don't continue to rally, people just start to take profits," said JJ Kinahan, chief strategist for TD Ameritrade.surged after the retailer