Stocks End at 3-1/2 Month Lows, Led by Techs
Stocks accelerated their losses in the final hour of trading to finish near session lows Tuesday, dragged by techs and weighed by ongoing worries about efforts in Washington to resolve the looming "fiscal cliff."
The Dow Jones Industrial Average dropped 58.90 points, or 0.46 percent, to finish at 12,756.18, led by Microsoft [MSFT 27.0895 -0.9005 (-3.22%) ] and Intel [INTC 20.28 -0.485 (-2.34%) ]. Home Depot [HD 63.38 2.22 (+3.63%) ] was the biggest blue-chip gainer, but the home improvement retailer still ended off its highs.
The S&P 500 declined 5.50 points, or 0.40 percent, to end at 1,374.53.
The Nasdaq fell 20.37 points, or 0.70 percent, to close at 2,883.89. The Nasdaq briefly dipped into correction territory, earlier in the session, falling 10 percent from its Sept. 21 high.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, ended above 16.