Stocks Slide Amid ECB Chatter -- US Commentary

(RTTNews) - Stocks were lower Tuesday after Bloomberg reported the ECB would probably wind down its $90-billion monthly bond purchases.

The ECB later said the report was erroneous, but investors remained concerned about the health of the euro zone economy and European financial sector.

The Dow Jones Industrial Average fell 85.40 points, or 0.5%, to close at 18,168.45.The S&P 500 Index declined 10.71 points, or 0.5%, to finish at 2,150.49, hurt by telecom stocks.

The Nasdaq Composite index closed down 11.22 points, or 0.2%, at 5,289.66.

The dollar jumped to its highest in 31 years versus the sterling.

Google unveiled its two newest flagship phones the Pixel and the Pixel XL at an event in San Francisco, California on Tuesday.

Pre-orders for the Pixel phones start today with prices starting at $649 for the Pixel and $769 for the Pixel XL.

Cargill reported that its net earnings for the fiscal 2017 first quarter ended August 31, 2016 were $852 million, up 66 percent from $512 million a year ago.