Panic takes hold as Dow tumbles nearly 800 points; Nasdaq plunges by about 4% in late-session trade

Selling on the NYSE on Tuesday afternoon has reached panic-like proportions, as the exchange’s Arms Index rose. The Arms is a volume-weighted breadth measure, that tends to rise when the broader market falls, as the intensity of the selling in declining stocks is usually greater than the intensity of buying in rising stocks. Values above 2.000 are considered panic-like activity. The NYSE ARMS index showed 2,507 decliners for 445 advancers and was at 2.497, according to FactSet data. So far, selling has been broad based, with the the Dow Jones Industrial Average DJIA, -3.10% trading 775 points, or 3%, lower, and threatening to notch its worst day since March 22. Meanwhile, the S&P 500 index SPX, -3.24% was down 3.7% at 2,702, while the Nasdaq Composite Index COMP, -3.80% was down 3.8% at 7,165.

See Full Story Dow closes down 800 points as U.S.-China trade, flattening yield curve spook investors

U.S. stocks finish sharply lower Tuesday, logging their worst day in nearly a month, as skepticism mounted over the significance of an agreement reached by the U.S. and China to postpone new tariffs and as the market digested a flattening yield curve in U.S. government debt.

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