By Mark DeCambre
U.S. stocks were heading lower to start Tuesday trade ahead of the start of a gathering of the U.S. central bank, which could prove important to the complexion of a market that has turned decidedly more turbulent in recent weeks.
On Monday, investors endured a sharp selloff and surprise rally, amid market uncertainty stoked by rising inflation, disappointing corporate earnings, anxiety about the Federal Reserve’s expected policy changes, fears of a Russian invasion of Ukraine and the continuing COVID-19 pandemic.
The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.34% was trading 353 points, or 1.4%, to reach 34,0003.
The S&P 500 index /zigman2/quotes/210599714/realtime SPX +2.02% was trading off 1.3% at about 4,352.
The Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +2.76% declined 1.5% to reach around 13,644.
In corporate news, shares of 3M Co. MMM rose after delivering stronger-than-expected earnings , while Johnson & Johnson JNJ shares were down 1.3%, after the consumer goods, pharmaceutical and medical device maker posted weaker-than-expected revenue for the fourth quarter.