Material Stocks Lead the Selloff, Down 6% in 5-Days
U.S. stocks closed down for the fifth consecutive trading session Tuesday, with the S&P 500 index posting its worst one-day percent loss this year.
Both the S&P 500 and Dow logged their worst 5-day percentage decline since Nov. 25, down about 4 percent in that period.
Cyclical names in the material, energy and industrial sectors had the largest losses. Financial companies, which are still up 15 percent so far this year, are also leading the declines.
The last time the S&P 500 fell for five consecutive trading days was on Aug. 2, when the index marked an 8-day losing streak, down 6.7 percent.