Wall Street slips in volatile trade after historic falls

(Reuters) – U.S. stocks slipped in volatile trading on Tuesday following the biggest one-day declines for the S&P 500 and Dow in more than six years.

Major indexes swung from negative to positive and back after starting the session down 2 percent.

The sharp declines in recent days have marked a pullback long-awaited by investors after the market has minted record high after record high.

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“Put your seatbelts on. It’s going to be a volatile ride for the next several trading sessions,” said Chad Morganlander, portfolio manager at Washington Crossing Advisors in Florham Park, New Jersey.

“Fundamentals are moving forward in a positive way, which gives us confidence that in the long run you’ll continue to see higher highs within the markets.”

The Dow Jones Industrial Average fell 50.94 points, or 0.21 percent, to 24,294.81, the S&P 500 lost 3.44 points, or 0.13 percent, to 2,645.5 and the Nasdaq Composite dropped 3.55 points, or 0.05 percent, to 6,963.98.

Additional reporting by April Joyner in New York, Tanya Agrawal in Bengaluru; Editing by Arun Koyyur, Patrick Graham and Susan Thomas

Our Standards:The Thomson Reuters Trust Principles.

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