U.S. stocks dropped Tuesday, with the Dow Jones Industrial Average tumbling 200 points, as investors weighed a series of mixed economic data following the long Memorial Day weekend. Tuesday’s losses were led by sharp declines in the technology sector.
The Dow (INDEXDJX:.DJI) dropped 200 points, or 1.08 percent, to 18,029. The Standard & Poor’s 500 (INDEXNASDAQ:.IXIC) lost 22.05 points, or 1.05 percent, to 2,104. The Nasdaq composite (INDEXSP:.INX) lost 65 points, or 1.28 percent, to 5,025.
All 30 stocks in the Dow traded lower Tuesday, with iPhone maker Apple Inc. (NASDAQ:AAPL) and International Business Machines Corp. (NYSE:IBM) among the largest decliners, both down 1.7 percent. Meanwhile, software giant Microsoft Corporation (NASDAQ:MSFT) and chipmaker Intel Corporation (NASDAQ:INTC) lost 1 percent.