U.S. stocks closed lower on Tuesday after falling sharply in the final hour of trading. Stocks had surged early, rebounding from a big sell-off a day before, after the Chinese central bank said it was cutting interest rates to shore up its economy. But the rally faded, extending the market's losing streak to six days.
For the day:
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The Dow Jones industrial average lost 204.91 points, or 1.3 percent, to 15,666.44.
The Standard & Poor's 500 index dropped 25.60 points, or 1.4 percent, to 1,867.61.
The Nasdaq composite fell 19.76 points, or 0.4 percent, to 4,506.49.
For the week:
The Dow is down 793.31 points, or 4.8 percent.
The S&P 500 index is down 103.3 points, or 5.2 percent.
The Nasdaq is down 199.55 points, or 4.2 percent.
For the year:
The Dow is down 2,156.63 points, or 12.1 percent.
The S&P 500 index is down 191.29 points, or 9.3 percent.
The Nasdaq is down 229.6 points, or 4.9 percent.