U.S. stocks fall as beleaguered banks tumble again
CBSN
Stocks fell Tuesday as shares of beleaguered banks tumbled again and worries about the economy worsened.
The rising fear sent yields sinking in the bond market, while Wall Street waits for the Federal Reserve's latest move on interest rates and Washington edges closer to what would be a catastrophic default on U.S. government debt.
The S&P 500 fell 52 points, or 1.2%, closing at 4,117. The Dow Jones Industrial Average was down 398 points, or 1.2%, at 33,654, after being down as many as 615 points earlier in the day. The Nasdaq composite tumbled 1%.
On the eve of the D-Day invasion, Gen. Dwight Eisenhower spent the remaining hours of daylight with the paratroopers who were about to jump behind German lines into occupied France. A single moment captured by an Army photographer became the most enduring image of America's greatest military operation.