Wall Street closed lower in a lackluster return to trading following a three-day holiday weekend.
The S&P 500 fell 0.4 percent Tuesday, though it remains within a good day of its all-time high set two years ago. The Dow lost 0.6 percent, and the Nasdaq composite slipped 0.2 percent.
Morgan Stanley sank after a legal matter and a special assessment knocked more than half a billion dollars off its pretax earnings, while Spirit Airlines nearly halved after a federal judge blocked its takeover by JetBlue. Treasury yields rose in the bond market to increase the pressure on the stock market.
On Tuesday:
The S&P 500 fell 17.85 points, or 0.4 percent, to 4,765.98.
The Dow Jones Industrial Average fell 231.86 points, or 0.6 percent, to 37,361.12.
The Nasdaq composite fell 28.41 points, or 0.2 percent, to 14,944.35.
The Russell 2000 index of smaller companies fell 23.66 points, or 1.2 percent, to 1,927.30.
For the year:
The S&P 500 is down 3.85 points, or 0.1 percent.
The Dow is down 328.42 points, or 0.9 percent.
The Nasdaq is down 67 points, or 0.4 percent.
The Russell 2000 is down 99.77 points, or 4.9 percent.
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