Dow marks the end of the day with more than 150 points lower
On Tuesday, stocks dropped for the first time in five days as investor sentiments were affected with the
latest news regarding U.S. coronavirus stimulus and treatments as well as the first batch of corporate
earnings, as reported by CNBC.
The Dow Jones Industrial Average fell 157.71 points, or 0.6%, to 28,679.81 as the shares of the tech
giant Apple declined. The S&P 500 descended 0.6% to 3,511.93. The Nasdaq Composite plunged 0.1% to
The major averages dipped to their lows of the day at around 2:30 p.m. ET following U.S. regulators
decided to pause Eli Lilly’s late-stage coronavirus trial due to safety concerns. The news emerged after
Johnson & Johnson pausing its coronavirus vaccine trial after an “adverse event” was reported. Eli Lilly
shares went down 2.9% and J&J dropped 2.3%.
House Speaker Nancy Pelosi, D-Calif., told fellow lawmakers in a letter that the proposal from the White
House for the new coronavirus aid has insufficient offers on health-care issues. Also, Senate Majority
Leader Mitch McConnell, R-KY, stated on Tuesday that the legislative body would vote and support next
week to initiate a smaller stimulus package.