Stocks moved sharply lower at the start of trading on Tuesday and have seen further downside over the course of the session. The steep drop comes after the major averages recovered from an initial sell-off on Monday to end the day mixed.
Currently, the major averages are off their lows of the session but still substantially negative. The Dow is down 1,099.64 points or 2.3 percent at 47,805.14, the Nasdaq is down 540.33 points or 2.4 percent at 22,208.53 and the S&P 500 is down 148.75 points or 2.2 percent at 6,732.87.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.