U.S. Stocks Sell Off; Nasdaq Falls 1.6%

U.S. stocks closed sharply lower on Tuesday, with the S&P 500 suffering its biggest one-day percentage decline in six weeks. A big drop in Apple Inc. and biotech stocks weighed on the Nasdaq Composite, erasing gains from the previous two sessions. The S&P 500 closed 25.02 points, or 1.2%, lower at 2,089.47. The Nasdaq Composite shed 77.60 points, or 1.6%, to 4,939.33. The Dow Jones Industrial Average dropped 142.33 points, or 0.8%, to 17,928.07.