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Stocks are getting crushed
(Google Finance)Losses for stocks are accelerating.
Near 3:25 p.m. ET, the Dow was down 187 points, the S&P 500 was down 17 points, and the Nasdaq was down 44 points.
All the major averages were near their lows of the day. Tuesday marks the final trading day of the first quarter.
On Monday, the stocks rallied, with the Dow closing over 260 points higher.
Economic data out on Tuesday has been mixed. Home prices rose 0.87% in January month-over-month, and rose 4.56% year-over-year, compared to expectations for 0.6% and 4.6% respectively.
The March Chicago Purchasing Managers Index missed expectations, at 46.3, versus 51.7 estimated; any reading below 50 indicates a contraction.
Consumer Confidence data from the Conference Board, however, showed consumer confidence soared on March, mostly on expectations of higher pay.
West Texas Intermediate crude oil continued its slide, falling by as much as 2% to as low as $47.28 per barrel.
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