U.S. shares tumbled as investors grappled with a selloff in Chinese shares, nervousness over Greece and the upcoming Federal Reserve minutes. The S&P 500 (INDEXSP:.INX) sank 1.1 percent to 2,057.79. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) declined 1 percent to 17,601.37, while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) dived 1.4 percent to 4,930.14. Most followed shares included Novartis, Symantec, Microsoft, Alcoa, Freeport-McMoRan, Tesla, Procter & Gamble, Container Store, CVS Health, and CarMax.
In health-care shares, ADRs of Novartis (NYSE:NVS) gained 0.4 percent to $99.56. The drug maker got FDA approval for its Entresto heart failure drug, after a study showed that it significantly reduced the risk of death.
In technology shares, Symantec (NASDAQ:SYMC) fluctuated and was last up 0.5 percent at $22.91. People with knowledge of the matter told Bloomberg the company is nearing a deal to sell its Veritas data-storage business to Carlyle Group LP for as much as $8 billion.
Microsoft (NASDAQ:MSFT) wavered and was last up 0.7 percent at $44.60 after the New York Times reported the company plans to announce a new round of layoffs to cut costs further.
In materials, Alcoa (NYSE:AA) lost 4.2 percent to $10.60. The largest aluminum producer unofficially kicks off the quarterly earnings season when it reports after markets close today.
Freeport-McMoRan (NYSE:FCX) slipped 2.7 percent to $16.78 as commodity prices extended a slump amid waning demand from China, the largest consumer of industrial metals.
In consumer stocks, Tesla (NASDAQ:TSLA) fell 3.2 percent to $259.31. The maker of electric cars was cut to Sector Weight from Overweight at Pacific Crest, which said it still considers the automaker's technology "disruptive" but that valuation is getting full.
Procter & Gamble (NYSE:PG) slipped 0.7 percent to $81.16. The provider of consumer packaged goods will change the packaging of some Olay skin-care products as part of a settlement with California prosecutors, who had accused the company of misleading consumers by selling jars of face cream in packaging that was at times much larger than the contents. The company also agreed to pay $850,000 in civil penalties and costs.
The Container Store Group (NYSE:TCS) inched up 0.2 percent to $17.53 after the storage products retailer reported a narrower-than-expected loss in its fiscal first quarter.
CVS Health (NYSE:CVS) skidded 1.6 percent to $104.72. The pharmacy company is quitting the U.S. Chamber of Commerce, citing conflicting stances with the powerful lobbying group regarding smoking.
CarMax (NYSE:KMX) slipped 0.4 percent to $66.29. The auto retailer's shares were upgraded to "buy" from "hold" at Goldman Sachs, saying the 11 percent drop since an April high has created an attractive entry point.