Stocks Opened Sharply Lower as Tech Rout Continued

U.S. stocks opened sharply lower on Tuesday, as the shares of mega-cap technology stocks continued to tumble. The Dow Jones Industrial Average lately dropped 400.46 points, or 1.42%, to 27,732.85. The S&P 500 fell 61.74 points, or 1.80%, to 3,365.22. The Nasdaq Composite tumbled 338.14 points, or 2.99%, to 10,974.99.

Oil futures fell sharply Tuesday, unable to shake off worries about crude demand due to a continued rise in coronavirus cases and the end of U.S. summer holiday driving season. West Texas Intermediate crude for October delivery fell $2.20, or 5.5%, to $37.57 a barrel. November Brent crude was off $1.39, or 3.3%, at $40.62 a barrel.