Dow's Monday Gains? All Gone
In fact, the whole market has a bad day
By Newser Editors and Wire Services
Posted May 17, 2016 3:25 PM CDT
Trader Craig Spector, left, works on the floor of the New York Stock Exchange, Tuesday, May 17, 2016.   (AP Photo/Richard Drew)

(Newser) – Stocks closed lower on Wall Street on Tuesday and undid a rally from the day before, the AP reports. Consumer goods companies and utilities fell the most. Kraft Heinz dropped 4% and Consolidated Edison fell 2%. The losses were broad. Nine of the 10 sectors of the Standard and Poor's 500 index fell. Energy stocks rose along with the price of crude oil. Stocks closed lower on Wall Street, undoing a rally from the day before. Consumer goods companies and utilities fell the most Tuesday. Kraft Heinz dropped 4% and Consolidated Edison fell 2%.

Meanwhile, LendingClub plunged another 9% after the Department of Justice opened an investigation into the company, which forced out its founder last week. The Dow Jones industrial average lost 180 points, or 1%, to 17,529. The Standard & Poor's 500 index gave up 19 points, or 0.9%, to 2,047. The Nasdaq composite index pulled back 59 points, or 1.3%, to 4,715.