Dow down 280 points, with tech shares under heavy pressure

SourceCNBC
SectorFinancial Markets
CountryGulf

Stocks fell in early trading Tuesday, led lower by heavy losses for tech-related shares, a day after the S&P 500 index and the Dow Jones Industrial Average put in a strong start to May, pushing the equity benchmarks near records.

Investors will watch for comments from Treasury Secretary Janet Yellen, who will be making two appearances, including a live-streamed interview hosted by The Wall Street Journal, as they assess earnings from Pfizer and CVS.

How are stock benchmarks performing?

On Monday, the Dow advanced 238.38 points, or 0.7%, ending at 34,113.23, its third-highest close in history; the S&P 500 added 11.49 points, or 0.3%, to close at 4,192.66, its second-highest finish ever; while the Nasdaq Composite fell 67.56 points, or 0.5%, finishing at 13,895.12, as it posted back-to-back declines.

What’s driving the market?

Tech-related shares were leading the move to the downside, with heavyweights Tesla Inc.
TSLA, -3.06%,
Amazon.com Inc.
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