Stocks on Wall Street closed lower Tuesday as a late sell-off in technology companies helped nudge major stock indexes into the red for the second straight day.
Banks, industrial firms and communication companies also helped drag the market lower, easily outweighing small gains by healthcare stocks and others. Energy companies fell the most as the price of U.S. crude oil slid 1.2%. Treasury yields held steady. “Stocks appear to be in consolidation mode, digesting strong year-to-date gains on the heels of a superb first-quarter reporting period,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “We view this pullback that we’re experiencing over the last week or so as within the normal ebb and flow of a broad market that still has legs to trend higher.”
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