How major USA stock indexes fared Tuesday

Dow dumps 400 points, on track for lowest close since April

The move for the Dow comes amid a string of bearish patterns that have cropped up in equities and fixed-income markets, highlighting growing concerns about the durability of a bull run in stocks that has lasted about a decade as the economy's vital signs have also been strong, in a long-running, if measured, rebound from the 2007-09 financial crisis.

U.S. stocks held near a 14-month low on a volatile day that saw the benchmark gauge swing nearly 2 percent from trough to peak. Afterhours trading in the largest exchange-traded fund that tracks the S&P 500 fell 0.5 percent.

Declining issues outnumbered advancers on the NYSE by a 5.55-to-1 ratio; on Nasdaq, a 4.31-to-1 ratio favoured decliners. The Cboe Volatility Index, the most widely followed gauge of expected near-term gyrations for the S&P 500, finished up 1.06 points at 25.58, its highest close in 10 months.

The S&P 500 has lost almost 8% of its value this month, eclipsing the 6% fall witnessed during the final month of 2002.

The S&P 500 is headed down 7.8% in December.

The Dow Jones Industrial Average fell 507.53 points, or 2.11 percent, to 23,592.98, the S&P 500 lost 54.01 points, or 2.08 percent, to 2,545.94 and the Nasdaq Composite dropped 156.93 points, or 2.27 percent, to 6,753.73. West Texas Intermediate oil dropped more than 8 percent at one point, tumbling past $46 a barrel as traders fretted about the outlook for growth.

In addition to Navarro, respected Wall Street figures have criticized the Fed in the last day, urging the central bank to not raise interest rates when it meets Wednesday.

The Nasdaq is down 119.48 points, or 1.7 per cent.

HuffPost: Trump Considering Son-In-Law Kushner For Chief Of Staff Job
Meadows had been a contender for the role, after Vice President Mike Pence's chief of staff, Nick Ayers, dropped out of the running.

The U.S. and China held vice-minister level trade talks by phone on Wednesday, China's Ministry of Commerce said on its website, without giving details of the call. "We are at a regime shift moment, and the debate is how big that regime shift will be".

A speech by Chinese leader Xi Jinping, which investors had hoped could lift morale, had little impact after he offered no specific support measures for the economy.

Meanwhile, oil dropped below $50 a barrel, its lowest price since October 2017.

The two-day Fed meeting, starting today, has been expected to deliver another interest-rate increase, Reuters reported.

Volume on USA exchanges was 9.44 billion shares, compared to the 8.01 billion average over the last 20 trading days.

There haven't been any big developments in U.S.

The dollar extended its declines against major currencies ahead of the Fed meeting.

In small caps, the Russell 2000 closed at 1,381.28 for a gain of 3.14 points or 0.23%.

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