US close: Stocks see red on fears of interest rate rise

US shares saw red at the close on Tuesday after remarks from Federal Reserve officials fuelled fears of an interest rate rise as early as June.

The Dow Jones Industrial Average fell 180 points, or 1%, to 17,529. The S&P 500 index finished the session 19 points lower to 2,047 and the Nasdaq Composite 59 points down at 4,715.

Investor jitters worsened after Atlanta Fed President Dennis Lockhart and San Francisco Fed President John Williams both said the June 14-15 Fed meeting could see rates rise for the first time since late last year.

“I think it certainly could be a meeting in which action could be taken,” Lockhart said at a Politico event in Washington, while Williams, speaking at the same function, said a lot more data would be available to inform any decision by the time of the Fed meeting.

Higher rates would mean higher borrowing costs for US businesses. The downbeat mood was compounded by US monthly inflation hitting a two month high due to higher petrol prices.

On the corporate front Home Depot fell despite reporting better-than-expected quarterly results.

Shares of LendingClub Corp dropped sharply as the online lender revealed it was being investigated by the US Justice Department late Monday, following the disclosure of faulty internal controls.

Resources stocks surged as the crude price jumped to fresh highs. Southwestern Energy, Freeport-McMoran and Range Resources all beat the general market trend to close the day higher.

S&P 500 - Risers
Southwestern Energy Co. (SWN) $12.26 +6.98%
Endo International Plc (ENDP) $15.17 +6.08%
United Rentals Inc. (URI) $64.28 +5.48%
Williams Companies Inc. (WMB) $21.51 +4.47%
Freeport-McMoRan Inc (FCX) $11.51 +4.26%
Range Resources Corp. (RRC) $39.28 +4.22%
Mallinckrodt Plc Ordinary Shares (MNK) $61.99 +3.77%
Agilent Technologies Inc. (A) $44.41 +3.42%
Western Digital Corp. (WDC) $36.75 +3.32%
EQT Corp. (EQT) $71.96 +3.02%

S&P 500 - Fallers
Kraft Heinz Co. (KHC) $82.16 -4.32%
Westrock Company (WRK) $37.97 -4.19%
Kimco Realty Corp. (KIM) $27.93 -4.09%
Hormel Foods Corp. (HRL) $38.80 -3.58%
AbbVie Inc (ABBV) $60.25 -3.52%
F5 Networks Inc. (FFIV) $103.83 -3.26%
Activision Blizzard Inc. (ATVI) $38.12 -3.22%
Alexion Pharmaceuticals Inc. (ALXN) $139.96 -3.19%
Dollar Tree Inc (DLTR) $77.51 -3.15%
Campbell Soup Co. (CPB) $63.81 -3.14%

Dow Jones I.A - Risers
Caterpillar Inc. (CAT) $71.05 +0.50%
E.I. du Pont de Nemours and Co. (DD) $64.53 +0.30%
JP Morgan Chase & Co. (JPM) $61.66 +0.00%

Dow Jones I.A - Fallers
Microsoft Corp. (MSFT) $50.51 -2.55%
Home Depot Inc. (HD) $132.00 -2.47%
American Express Co. (AXP) $62.76 -2.04%
Coca-Cola Co. (KO) $44.75 -1.91%
United Technologies Corp. (UTX) $100.06 -1.73%
Travelers Company Inc. (TRV) $110.42 -1.62%
Chevron Corp. (CVX) $100.75 -1.51%
McDonald's Corp. (MCD) $127.69 -1.50%
Wal-Mart Stores Inc. (WMT) $65.10 -1.39%
Intel Corp. (INTC) $29.98 -1.35%

Nasdaq 100 - Risers
Endo International Plc (ENDP) $15.17 +6.08%
Western Digital Corp. (WDC) $36.75 +3.32%
Vodafone Group Plc ADS (VOD) $33.58 +2.57%
Seagate Technology Plc (STX) $19.64 +2.48%
Stericycle Inc. (SRCL) $97.67 +2.30%
JD.com, Inc. (JD) $23.88 +2.18%
Baidu Inc. (BIDU) $171.05 +1.84%
American Airlines Group (AAL) $32.64 +1.62%
Mylan Inc. (MYL) $41.02 +1.41%
TripAdvisor Inc. (TRIP) $65.79 +1.37%

Nasdaq 100 - Fallers
Kraft Heinz Co. (KHC) $82.16 -4.32%
Activision Blizzard Inc. (ATVI) $38.12 -3.22%
Alexion Pharmaceuticals Inc. (ALXN) $139.96 -3.19%
Dollar Tree Inc (DLTR) $77.51 -3.15%
Walgreens Boots Alliance, Inc. (WBA) $76.48 -3.03%
O'Reilly Automotive Inc. (ORLY) $254.16 -2.93%
Mondelez International Inc. (MDLZ) $43.25 -2.85%
Biomarin Pharmaceutical Inc. (BMRN) $84.05 -2.80%
Liberty Global plc Series C (LBTYK) $36.58 -2.69%
Microsoft Corp. (MSFT) $50.51 -2.55%