US stocks fell on Tuesday as investors took profits in the technology and banking sectors while a drop in US exports in March and multiple stock offerings from various companies dampened enthusiasm. Among the heaviest weights were J.P. Morgan Chase & Co off 3.7 percent at $34.50 and American Express, down 3.5 percent at $25.13.
The KBW Bank Index dropped 5.3 percent, but is still more than double its March 9 closing level. In the technology sector, Apple Inc contributed the most to the Nasdaq's decline. Apple's stock fell 3.6 percent to $124.89. The Nasdaq 100 technology index fell 2 percent, but was still 35 percent higher than its March lows.
The Dow Jones industrial average dropped 21.58 points, or 0.26 percent, to 8,397.19. The Standard & Poor's 500 Index fell 8.76 points, or 0.96 percent, to 900.48. The Nasdaq Composite Index slid 26.12 points, or 1.51 percent, to 1,705.12.
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