Dow Drops More Than 300 Points Led By Boeing And Nike
U.S. stocks fell for a second day on Tuesday as strong corporate earnings failed to boost a market already near record highs, while an alarming rise in global Covid cases raised concerns about the recovery. The Dow Jones Industrial Average fell 340 points as Boeing and Nike both dropped more than 4%. The S&P 500 lost nearly 1%, while the tech-heavy Nasdaq Composite dipped 1.5%. Reopening plays such as airlines and cruise line operators led losses on Tuesday. United Airlines plunged 9% after the carrier reported its fifth consecutive quarterly loss and said that business and international travel recovery is still far off. American Airlines fell 6%, while Carnival, Norwegian Cruise Line and Royal Caribbean all traded about 4% lower. Read more at CNBC.
