The stock market fell on Tuesday as technology stocks slumped. After starting the day higher following an encouraging report on orders for manufactured goods, stocks drifted lower in afternoon trading and gave up their gains from a day earlier. Facebook led the technology sector lower as investors gave the company’s latest acquisition the thumbs-down.
The Dow Jones industrial average fell 98.89 points, or 0.6 percent, to 16,268.99.
The Standard & Poor’s 500 index dropped 13.06 points, or 0.7 percent, to 1,852.56.
The Nasdaq composite declined 60.69 points, or 1.4 percent, to 4,173.58.
For the week:
The Dow is down 33.78 points, or 0.2 percent.
The S&P 500 is down 13.96 points, or 0.8 percent.
The Nasdaq is down 103.21 points, or 2.4 percent
For the year:
The Dow Jones industrial average is down 307.67 points, or 1.9 percent.
The Standard & Poor’s 500 index is up 4.20 points, or 0.2 percent.
The Nasdaq composite is down 3.01 points, or 0.1 percent.