The S&P 500 falls 2% as data from Conference Board shows consumers’ optimism cooled again in June

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 491.27 points, or 1.6%, to 30946.99. The blue-chip index was up as much as 1.4% earlier in the session. The S&P 500 closed down 78.56 points, or 2%, at 3821.55. The technology-focused Nasdaq Composite Index fell 343.01 points, or 3%, to 11181.54.

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