You might be surprised how easy it is to fall out of the market bubble.But the real estate market has been a little different.A year ago, we predicted that the market would bubble by 2018.But by this summer, we are starting to see some evidence that it could actually bubble sooner.In fact, as of the end of June, the real-estate market had already hit the two-year high of $1.6 trillion.We believe t...
MARKET OPENING IN: MARKET HOURS: 9AM-7PM (EDT) MARKET CLOSING: 7PM-6AM (EDW) NEW YORK (Reuters) – The benchmark S&P 500 index ended its day higher on Tuesday but fell more than 1 percent, the worst performance since March 2008.
The index ended at 7,742.63, down 2.1 percent.
The Dow Jones Industrial Average, the benchmark of technology stocks, finished at 2,569.25, up 0.2 percent.
The S&s was the biggest decline since March, when it was down 3.6 percent.
It is down nearly 20 percent this year.
“It is really disappointing to see the market slide off such a high level,” said Michael Lachlan, an analyst at Jefferies in New York.
The market’s drop was particularly dramatic as stocks like Microsoft Corp and Apple Inc closed their markets on Monday.
“This is an unfortunate moment for the market, as a lot of stocks have gone up this year,” said David C. Gorman, senior portfolio manager at Vanguard.
The rally began as the S&ams performance rose after the Federal Reserve raised interest rates.
But it has since slowed.
Investors are also nervous about the government’s decision to close some tax loopholes.
The Dow Jones fell 0.6% on Monday, its biggest single-day drop since December 2010.
The S&am closed up 1.3%.
The Nasdaq composite closed down 0.9% on Tuesday.
The dollar weakened, with the greenback dropping to 70.10 from 70.30 per dollar.
The greenback is the benchmark for currencies in the United States and Europe.
It fell against a basket of major currencies.