U.S. stocks fell on Tuesday as the main averages struggled away from three days of intense sales, which brought the S&P 500 to its lowest level in more than a year.

The Dow Jones Industrial Average last fell more than 160 points, or 0.5% after rising more than 500 points earlier in the session. The S&P 500 was down about 0.1%, backing from the previous rally, and the Nasdaq Composite added 0.4%.

“We’re in a market where you just can’t hold any rallies,” Paul Hickey of Bespoke Investment Group told CNBC’s TechCheck on Tuesday. “… It’s not surprising given the general trends we’ve seen over the last few days, and I think we’ll just see more of that in the future.”

Dow Transports fell about 1%, pulling the index lower. These steps also signaled concern about the recession, as the industry is commonly used to measure the strength of the economy. IBM, Home Depot, 3M and JPMorgan Chase fell more than 2%, leading to market losses.

At the same time, stocks of downed technologies such as Microsoft, Intel and Apple led to growth on Tuesday. The sector has suffered some of the biggest losses in recent weeks as investors have moved from growth areas to safe havens, such as consumer products and utilities, amid fears of a recession.

“So far, this weakness has been driven by growth, technology and cyclicality, and while we expect further weakness and, indeed, underperformance, we now also see signs that the value space may be close to setting an important peak in absolute terms, in that while some key defense sectors are also threatening tops, ”wrote David Snedan of Credit Suisse.

Against the background of the sale, investors continue to look for signs of the bottom.

“We’ve noted a lot of frameworks you’d like to test on the road to correction,” said Art Hogan, National Securities ’chief market strategist. “Once you get to the nominal names of leaders, generals, you tend to find yourself in the later stages of this correction process.”

Some, including hedge fund manager David Tepper, believe the sell-off is coming to an end. Tepper told CNBC’s Jim Kramer on Tuesday that he expects the Nasdaq to stay at 12,000.

Meanwhile, Treasury bond yields fell from multi-year highs, and benchmark 10-year Treasury bond yields traded below 3% after hitting a high since late 2018 on Monday.

Much of the recent market movement has been driven by the Federal Reserve and how aggressively it will need to act to fight rising inflation.

The move on Tuesday came after the S&P 500 fell below 4,000 to a low of 3,975.48 on Monday. This became the weakest point of the index since March 2021. The broad market index fell 17% from a 52-week high when Wall Street struggled to recover from last week’s losses.

Stock Picks and Investment Trends from CNBC Pro:

“Despite our expectations of falling inflation and sustained growth, we believe investors need to prepare for further stock volatility amid significant shifts in key economic variables and bond markets,” writes Mark Hefele of UBS. “We continue to prefer those areas of the market that need to outperform in an environment of high inflation.”

In terms of earnings, Peloton Interactive fell 13% after reporting a wider-than-expected loss in the last quarter. Shares of AMC fell 7.5%, while Novavax fell 2.5% amid recent quarterly earnings.

Investors are counting on profits from Coinbase, Roblox, RealReal and Allbirds after the call. Meanwhile, traders expect April data on the consumer price index on Wednesday, which is expected to be just below the March 8.5% and may indicate that inflation has peaked.

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