US stocks ended lower on Tuesday, as investors tried to process comments from a senior Federal Reserve official regarding troubled banks, while selling shares of technology-related companies following recording a strong performance in the latest trade.
Michael Barr, the Fed’s chief banking supervisor, told a Senate committee that Silicon Valley had done a “terrible” job of managing risk before it collapsed.
The Standard & Poor’s 500 index fell by 6.17 points, or 0.16 percent, to close at 3971.36 points, while the Nasdaq Composite Index fell 52.27 points, or 0.44 percent, to 11,716.56 points. The Dow Jones industrial average fell 38.05 points, or 0.12 percent, to 32,394.03 points. (Archyde.com)
