Stocks Ended Lower on Interest Rate Worries

U.S. stocks ended lower on Tuesday, as one Federal Reserve president indicated a September interest-rate hike is likely unless there’s a significant deterioration in the economy. The Dow Jones Industrial Average fell 47.51 points, or 0.27%, to 17,550.69. The S&P 500 slipped 4.72 points, or 0.22%, to 2,093.32. The Nasdaq Composite lost 9.84 points, or 0.19%, to 5,105.55.

Etsy (ETSY) delivered quarterly earnings and revenue that topped analysts’ expectations on Tuesday, but the stock plunged as the company warned that foreign exchange rates could negatively impact third-quarter sales growth.

First Solar Inc. (FSLR) on Tuesday reported second-quarter earnings of $95 million, or 93 cents a share, compared with earnings of 4 cents a share a year ago. Revenue hit $896 million in the quarter, compared with $544 million a year ago.

Sprint Corp. Chief Executive Officer Marcelo Claure showed progress in his turnaround plan for the unprofitable carrier with better-than-estimated quarterly results and the third consecutive gain in subscribers.

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