Major Averages Close In The Red Following Lackluster Session

(RTTNews) - While selling pressure was relatively subdued, stocks moved mostly lower over the course of the trading day on Tuesday. With the loss on the day, the Dow pulled back off the record closing high set in the previous session.

Trucking stocks showed a significant move to the downside on the day, dragging the Dow Jones Trucking Index down by 1.6 percent. Con-way (CNW) and C.H. Robinson (CHRW) turned in two of the sector's worst performances.

Considerable weakness also emerged among semiconductor stocks, as reflected by the 1.3 percent drop by the Philadelphia Semiconductor Index. Altera (ALTR) helped lead the sector lower after Goldman Sachs removed the stock from its Conviction Buy List.

Railroad stocks also came under pressure on the day, with the Dow Jones Railroads Index falling by 1.1 percent after ending the previous session at a record closing high.

Software and tobacco stocks also saw notable weakness, while most of the other major sectors ended the day showing more modest moves.

The major averages all ended the day in negative territory, although the Dow edged down only 8.99 points or 0.1 percent to 15,967.03. The Nasdaq fell 17.51 points or 0.4 percent to 3,931.55 and the S&P 500 slipped 3.66 points or 0.2 percent to 1,787.87.