U.S. stocks ended sharply lower Tuesday, ending a long stretch of quiet trade, after earnings from First Republic Bank FRC renewed worries over regional banks. Poorly received results from United Parcel Service UPS weighed on transportation stocks, fanning recession worries. Meanwhile, a busy week of earnings from Big Tech companies was set to kick off after the opening bell, with results due from Microsoft MSFT and Google parent Alphabet Inc. GOOGGOOGL. The Dow Jones Industrial Average DJIA ended the day down around 344 points, or 1%, near 33,532, according to preliminary figures, while the S&P 500 SPX shed 1.6% and the Nasdaq Composite COMP dropped 2%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.