US Stock Market Faces Worst Day of Year as Dow, Nasdaq Fall

© AP Photo / Lucas JacksonElectronic boards display the days loss to the Dow Jones Industrial Average (DJI) above the floor of the New York Stock Exchange (NYSE) in New York, U.S. (File)
Electronic boards display the days loss to the Dow Jones Industrial Average (DJI) above the floor of the New York Stock Exchange (NYSE) in New York, U.S. (File) - Sputnik International
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Major US indexes dropped more than 1 percent on Tuesday with Nasdaq falling almost 2 percent, marking the worst day for the stock market in 2017.

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WASHINGTON (Sputnik) — The Dow Jones Industrial Average dropped 237.85 points, or 1.14 percent, to 20,668.01. The Nasdaq fell 107.70 points, or 1.83 percent, reaching 5,793.82, while the Standard & Poor’s 500 dropped 29.45 points, or 1.24 percent, closing at 2,344.02.

Traders have been discouraged by lack of progress in the agenda of President Donald Trump’s administration, according to media reports. Uncertainty stemming from the new Republican healthcare plan may have also contributed to the decline.

Earlier on Tuesday, White House Press Secretary Sean Spicer said one day cannot be indicative of the stock market condition.

The Trump administration has previously tied the stock market success to its economic policies.

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