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U.S. stocks were heading lower to start Tuesday trade ahead of the start of a gathering of the U.S. central bank, which could prove important to the complexion of a market that has turned decidedly more turbulent in recent weeks.
On Monday, investors endured a sharp selloff and surprise rally, amid market uncertainty stoked by rising inflation, disappointing corporate earnings, anxiety about the Federal Reserve’s expected policy changes, fears of a Russian invasion of Ukraine and the continuing COVID-19 pandemic.
-
The Dow Jones Industrial Average
DJIA,
-2.18%
was trading 353 points, or 1.4%, to reach 34,0003. -
The S&P 500 index
SPX,
-2.60%
was trading off 1.3% at about 4,352. -
The Nasdaq Composite Index
COMP,
-2.88%
declined 1.5% to reach around 13,644.
In corporate news, shares of 3M Co. MMM rose after delivering stronger-than-expected earnings, while Johnson & Johnson JNJ shares were down 1.3%, after the consumer goods, pharmaceutical and medical device maker posted weaker-than-expected revenue for the fourth quarter.
