The stock market turned negative in early afternoon trading Tuesday on news reports of political turmoil in Egypt.
Stocks had traded higher most of the day on positive news about the U.S. economy. But around 1:40 p.m. Eastern Daylight time, the market dipped below Monday's close. News emerged that Egypt's military had drawn up plans to suspend the country's constitution, dissolve its legislature and set up an interim government.
That development overshadowed good news about car sales, home prices and manufacturing, which led the market higher in the morning.
The Standard & Poor's 500 index had climbed as much as 9 points, or 0.6 percent, to 1,624. By 2:11 p.m. the stock index was down three points, or 0.2 percent, at 1612. Continue reading "Stock market falls after reports of Egypt turmoil"
