U.S. Stocks fall Tuesday as investors worry about the valuation of high end companies that might be too expensive, over valued and thus causing a decline in the market. Investors are also worry about 1st Quarter Earnings as earnings season starts, because due to overvalued companies with weak performance rates it is causing investors to have a negative outlook for the first quarter.
Technology shares have been hit as traders dump the biggest winners of the bull market amid concern valuations have advanced too far.
“People are trying to get more defensive ahead of this earnings season,” said Keith Bliss, senior vice president at brokerage Cuttone & Co.
WTI Crude Oil for May delivery decreased 0.6 percent, to $100.57 a barrel.
Gold futures for June delivery lost 0.4 percent to settle at 1,298.30 on the Comex in New York as investors speculated the Fed won’t slow its bond buying.
The Dow Jones Industrial Averageclosed down 1.02% to 16,245.87, while the S&P 500 finished off 1.08% to 1,845.04. The Nasdaqshed 1.16% to 4,079.75.