Late slump leaves stocks lower; gold holds at record high
A late slump left stocks broadly lower on Wall Street Tuesday, while cautious investors continued to push money into gold and Treasurys, leaving gold at another record high. Weak earnings from several big U.S. companies also dampened the mood. The S&P 500 gave up 0.6% after falling steadily in the last hour of trading. Weakness in technology stocks pulled the Nasdaq down 1.3%. A sizable loss in 3M pulled the Dow Jones Industrial Average lower. The maker of n95 masks reported earnings that fell shy of analysts’ expectations. McDonald’s also dropped after reporting earnings for the spring that were weaker than analysts had forecast.
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