Wall Street falls on oil tumble, consumer sector and Fed worries

Wall StreetWall Street

US stocks closed lower on Tuesday as a sharp drop in oil prices hurt energy stocks and retail stocks were pulled down by concerns about Amazon.com’s plan to boost its apparel business, while investors also worried about future Federal Reserve rate hikes.

Healthcare was the brightest spot in stocks with a 0.3 percent rise while the consumer discretionary index showed a 1.25 percent drop in line with the energy index decline.

The Dow Jones Industrial Average was down 61.85 points, or 0.29 percent, to 21,467.14, the S&P 500 had lost 16.43 points, or 0.67 percent, to 2,437.03 and the Nasdaq Composite had dropped 50.98 points, or 0.82 percent, to 6,188.03.

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Epic Research
Epic Research
Epic Research - Investment Adviser is a leading financial services provider with presence in Indian and other global capital markets. Call on - 0731-664-2300