June 20, 2017: The S&P 500 closed lower, down 0.66% at 2,437.16. The DJIA closed lower 0.3% at 21,467.45. Separately, the Nasdaq closed down 0.8% at 6,188.03.
Although Monday was an incredibly positive day for the markets, Tuesday was more or less a complete reversal. Practically every sector in the S&P 500 was down with the single exception of health care. A handful of biotech and pharma companies actually made strong gains on the day but these were the only ones. Crude oil was down significantly and oil & gas stocks suffered as a result. Major money center banks led the charge downward in the financial sector. Retailers had a pretty bad day as well.
Crude continued its drop this week. It was last trading down about 2% at $43.34.
Gold fell again and was last seen down 0.2% at $1,244.20.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Tuesday was Frontier Communications Corp. (NASDAQ: FTR) which traded down about nearly 8% at $1.22. The stock’s 52-week range is $1.19 to $5.22. Volume was over 32 million versus the daily average of 41.5 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Tuesday was Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) which rose over 4% to $493.93. The stock’s 52-week range is $325.35 to $504.89. Volume was about 2.0 million on the day compared to the average of 937,123.