After The Bell: Stocks Close Lower On Global Growth Concerns
(CBS) -- Stocks closed lower on Tuesday as international growth concerns and a decline in global commodity prices weighed on investor sentiment. All three of the major averages gave back one percent or more for the session. The NASDAQ fell 72, the S&P 500 lost 24 and the Dow Jones industrial average shed nearly 180 points, settling to 16,330.
"The Fed not raising rates last week and giving no clues on when they are actually going to make a move, growing international concerns and the overall market uncertainty is keeping a lot of people on the sidelines right now." says Susan Schmidt, senior portfolio manager at Westwood Holding Group.
She adds that investors need to be very selective when choosing stocks in the current environment.
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