(CNBC) — U.S. stocks dropped sharply on Tuesday after Home Depot reported quarterly sales that fell short of Wall Street’s expectations and interest rates breached new highs.
The Dow Jones industrial average fell 193 points to close at 24,706.41, with Home Depot among the biggest contributors of losses. The index also snapped an eight-day winning streak.
The S&P 500 declined 0.7 percent to 2,711.45 as health care and real estate stocks lagged. The Nasdaq composite dropped 0.8 percent to 7,351.63 as Amazon, Microsoft and Google-parent Alphabet all pulled back more than 1 percent.