Stock Market Drops; Dow Gives Up Early Gains

U.S. stocks slumped Tuesday, giving up early gains and falling for a second consecutive day, as investors parsed fresh economic figures for clues about the pace of monetary-policy tightening.

The Dow Jones Industrial Average dropped roughly 470 points, or 1.5%, erasing an earlier gain of 1.4%. The S&P 500 lost 2%, while the technology-focused Nasdaq Composite Index fell 2.8%.