U.S. Stocks Lose Ground on Global Concerns & New Tax Rule
Global concerns weighed investors with the markets closing lower Tuesday. The S&P 500 and Nasdaq fell for a third day. The Dow Jones Industrial ended down triple digits for the second straight day. The Russell 2000 index also closed lower for a third session. U.S-led airstrikes against ISIS had investors seeking safe havens in commodities. Crude prices for November delivery gained $0.70 to settle at $91.56. Nabors Industries (NBR) benefited from rising energy prices. Burger King (BK) slid almost 1% after a new rule was announced on 'tax inversion deals.' There's debate if the new rules will impeded merger plans between Burger King and Canadian fast-food chain Tim Hortons. CarMax tanked after disappointing earnings expectations for its second quarter.
