US election, rate uncertainty rattle Wall Street

Wall Street sold off on Tuesday, with the S&P 500 closing at the lowest level since July 7, amid growing concern over the impending US presidential election and prospects for higher US interest rates.

The S&P 500 lost 14.43 points, or 0.68 percent, to 2,111.72, its biggest single-day percentage drop since Oct. 11. 

The Dow Jones industrial average fell 105.32 points, or 0.58 percent, to 18,037.1, and the Nasdaq Composite dropped 35.56 points, or 0.69 percent, to 5,153.58.

Declining issues outnumbered advancing ones on the NYSE by a 3.21-to-1 ratio; on Nasdaq, a 2.29-to-1 ratio favored decliners.

The S&P 500 posted 5 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 30 new highs and 152 new lows.

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