(CNBC) — U.S. stocks closed lower on Tuesday, with the Dow Jones industrial average pressured by lackluster earnings from a few blue chips.
"Basically it's all about two stocks that are weighing on the blue chip index. But they're basically down fractionally. It doesn't really indicate any reversal at this time," said Peter Cardillo, chief market analyst at Rockwell Global Capital. "It's all about earnings and waiting for Apple, which is probably going to be the market leader tomorrow either one way."
The Dow Jones industrial average traded about 170 points lower, off earlier losses of more than 225 points, or 1.2 percent. The index fell below 18,000 as IBM and United Technologies plunged about 6 percent and 7 percent, respectively.
Advertisement - story continues below