Stocks tumble at the open as Nasdaq leads selloff

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U.S. stocks renewed their weakness at the start of Tuesday’s trade, kicking off a holiday-shortened week as investors continued to flee technology stocks which had led the broader market’s gains since the March lows. The S&P 500 fell 1.8% to 3,364. The Dow Jones Industrial Average fell 406 points, or 1.4%, to 27,727. The Nasdaq Composite slipped 2.9% to 10,986. Analysts also attributed the bearish sentiment to President Donald Trump’s comments on the weekend, when he called for a decoupling between the U.S. and Chinese economy. Shares of Tesla tumbled 15%, trimming its triple-digit year-to-date gains.
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