By Alex Seitz-WaldAssociated PressThe U.S. stock market is expected to soar higher in the coming days after a week of strong gains, as analysts believe a rally in energy prices will fuel a further rebound.But if the market does not move forward much faster, it could be a very big bubble.Here are five ways to watch the market for signs of a market correction.1.Stock prices will be lower than they h...
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.