U.S. stocks closed lower on Monday, led by declines in materials stocks as commodity prices dropped. The price of oil fell to a six-year low Tuesday after OPEC said its production increased and China devalued its currency, suggesting economic growth there was weakening, which could result in lower demand for oil.
For the day:
The Dow Jones industrial average fell 212.33 points, or 1.2 percent, to 17,402.84.
The Standard & Poor's 500 index declined 20.11 points, or 1 percent, to 2,084.07.
The Nasdaq composite dropped 65.01 points, or 1.3 percent, to 5,036.79.
For the week:
The Dow is up 29.46 points, or 0.3 percent.
The S&P 500 index is up 6.50 points, or 0.2 percent.
The Nasdaq is down 6.75 points, or 0.1 percent.
For the year:
The Dow is down 420.23 points, or 2.4 percent.
The S&P 500 index is up 25.17 points, or 1.2 percent.
The Nasdaq is up 300.73 points, or 6.4 percent.