The US markets ended lower on Tuesday as the tech-heavy Nasdaq showed a particularly steep drop. The Dow reached a new record intraday high in early trading but has since joined the Nasdaq and the S&P 500 firmly in negative territory. The sell-off on Wall Street largely reflects a rotation out of technology stocks, as reflected by the steep drop by the tech-heavy Nasdaq. Software stocks are turning in some of the tech sector’s worst performances, dragging the Dow Jones U.S. Software Index down by 3.7 percent to its lowest intraday level in over nine months. On the sectorial front, steel, energy and housing stocks also moved notably higher on the day, helping to limit the downside for the broader markets.
Nasdaq decreased 336.922 points or 1.43 percent to 23,255.185, S&P 500 declined 58.63 points or 0.84 percent to 6,917.81 and Dow Jones Industrial Average fell 166.67 points or 0.34 percent to 49,240.99.
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