Stocks showed a notable decline at the start of trading on Tuesday, with the major averages giving back some ground after posting standout gains in the previous session. Profit taking contributed to the initial downward move by the markets.
After helping to lead the way higher in the previous session, banking stocks are turning in some of the worst performances in early trading. Real estate, brokerage, and airline stocks are also seeing considerable weakness.
Nonetheless, selling pressure has remained relatively subdued in early trading, with the major averages holding onto the bulk of the gains posted on Monday.
The major averages have moved well off their lows for the young session in the past few minutes, although they remain firmly negative. The Dow is currently down 64.76 at 7,711.10, the Nasdaq is down 18.31 at 1,537.46 and the S&P 500 is down 10.80 at 812.12.
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