A combination of concerns knocked the U.S. stock market lower Tuesday, snapping a two-day advance. Crude oil climbed above $60 a barrel for the first time this year, raising expectations for rising inflation and interest rates. Greece’s government remained in a standoff with its European creditors as a debt payment looms next week.
The Dow Jones industrial average fell 142.20 points, or 0.8 per cent, to close at 17,928.20.
The Standard & Poor’s 500 index lost 25.03 points, or 1.2 per cent, to 2,089.46.
The Nasdaq declined 77.60 points, or 1.6 per cent, to 4,939.33.
For the week:
The Dow is down 95.86 points, or 0.5 per cent.
The S&P 500 index is down 18.83 points, or 0.9 per cent.
The Nasdaq is down 66.06 points, or 1.3 per cent.
For the year:
The Dow is up 105.13 points, or 0.6 per cent.
The S&P 500 index is up 30.56 points, or 1.5 per cent.
The Nasdaq is up 203.27 points, or 4.3 per cent.