Stocks closed broadly lower on Wall Street Tuesday, after a discouraging snapshot of U.S. consumer confidence stoked investors’ worries about the risk that sharply higher interest rates and pervasive inflation could trigger a recession.
The S&P 500 ended 2 percent lower, reversing a 1.2 percent gain from earlier in the day. The Dow Jones Industrial Average fell 1.6 percent and the Nasdaq composite ended 3 percent lower.