Stocks moved sharply lower during trading on Tuesday, largely offsetting the notable rebound seen in the previous session. With the steep drop on the day, the Dow and the S&P 500 fell to their lowest closing levels in at least a month.
The major averages saw continued weakness going into the close of trading. The Dow plunged 652.22 points or 1.9 percent to 34,483.72, the Nasdaq slumped 245.14 points or 1.6 percent to 15,537.69 and the S&P 500 tumbled 88.27 points or 1.9 percent to 4,567.00.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.