Nasdaq Moves Sharply Lower As Chip Stocks Plunge, Oil Prices Spike

After coming under pressure early in the session, stocks staged a recovery attempt in mid-day trading on Tuesday but moved back to the downside as the day progressed.

The major averages all finished the day in negative territory, with the tech-heavy Nasdaq showing a notable decline.

The Nasdaq tumbled 302.47 points or 1.2 percent to 25,818.69, the S&P 500 fell 33.58 points or 0.5 percent to 7,503.85 and the Dow dipped 130.76 points or 0.3 percent to 52,925.15.