An early rally on the stock market was largely gone by the closing bell as another plunge in the price of oil sank energy stocks.
USA crude oil fell to its lowest price since August 2017, and it has now fallen nearly 40 percent since early October. J&J shares ended 2.9 percent lower.
"With increased stock market volatility and signs of slower growth overseas, there are increasing calls for the Fed to halt its rate increases", wrote David Kelly, chief global strategist at JPMorgan Funds on Monday.
Oil prices dropped 4 percent, weakening for a third consecutive session as reports of swelling inventories and forecasts of record USA and Russian output. Exxon Mobil fell 2.7%, Chevron lost 2.4% and ConocoPhillips dropped 1.9% as the USA and Russian Federation continue to pump at record levels ahead of planned output cuts by the Organization of the Petroleum Exporting Countries and its allies.
Ahead of a Wednesday policy meeting at the Federal Reserve, markets across the board are lower, with European stocks dropping during Tuesday-morning trade, pushed lower by the worries across the Atlantic.
Technology companies helped drive stocks higher Tuesday.
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It also ordered that Rajapaksa should not exercise the powers of the office he has claimed since October 26. But the people will definitely get the change they desire.
Boeing jumped 3.8 per cent after it boosted its dividend and announced a new share buyback program, while Johnson & Johnson added one percent after announcing a $5 billion share repurchase plan of its own. Brent crude, used to price global oils, was up a cent at $56.27 a barrel.
S&P 500 energy stocks led the declines, falling 2.4 percent.
The Dow Jones Industrial Average advanced 0.4 per cent to 23,675.74. The two sides are planning to hold meetings in January to negotiate a broader truce in their trade war, according to Treasury Secretary Steven Mnuchin. -Chinese trade dispute, low oil prices, a possible US government shutdown and the turmoil surrounding Britain's exit from the European Union.
With equities beaten down in recent weeks, stock investors are increasingly pinning their hopes on the US Federal Reserve taking a dovish turn Wednesday.
The S&P 500 fell 54 points, or 2.1 percent, to 2,545. The Dow and S&P are down for the year, and the Nasdaq is hanging in positive territory by less than a percent.
Johnson & Johnson shares rose 1.0 percent after a almost 13 percent drop over two days on a Reuters report that the company knew for decades that its Baby Powder contained asbestos.