SWS Market Update: Stocks drop as investors concern over interest rates rise
Stocks drop on Tuesday for the third session in a row as investors concerns about raising interest rates continues to grow after Federal Reserve Chairman Jerome Powell’s remarks on Friday. All three benchmark indexes are on the path to falling at least 3% in August. The S&P 500 dropped 1.10% to 3986.16 on today and has lost 5.1% since Friday’s sell-off. The Dow Jones Industrial Average fell 0.96% to 31790.87 and the Nasdaq Composite lost 1.12% to close at 11883.14 on Tuesday