The Dow Slumps, Apple and Microsoft Fall — and What Else Is Happening in the Stock Market Today

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The stock market is dropping after Tuesday’s big rally as recession fears ramp up and investors await Federal Reserve chairman Jerome Powell’s testimony before Congress. 

Shortly after the open the Dow Jones Industrial Average was down 311 points, or 1%. The S&P 500 had dropped 0.8%; and the Nasdaq Composite lost 0.7%. The indexes had gained more than 2% on Tuesday.