<p>Wall Street stocks tumbled in opening trading Tuesday, adding to the prior session's retreat on worries about excess valuation and inflation.</p>.<p>Tech shares, which surged during much of the coronavirus pandemic, continued to see pressure as investor interest shifts to sectors expected to thrive in a reopened economy.</p>.<p>"Valuation always matters," Briefing.com analyst Patrick O'Hare said. "It might be disregarded or rationalized to some ridiculous extent for awhile, but ultimately, it always matters."</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/business/business-news/asia-shares-fall-on-inflation-worries-us-federal-reserve-outlook-984672.html" target="_blank">Asia shares fall on inflation worries, US Federal Reserve outlook </a></strong></p>.<p>About 35 minutes into trading, the Dow Jones Industrial Average was down 0.8 per cent at 34,475.66.</p>.<p>The broad-based S&P 500 also fell 0.8 per cent to 4,156.48, while the tech-rich Nasdaq Composite Index dropped 0.9 per cent to 13,284.28.</p>.<p>All three major indices fell Monday, with the Dow snapping a three-day streak of records and the Nasdaq sinking 2.6 per cent.</p>.<p>Among individual companies, L Brands fell 3.0 per cent after it announced it would split Bath & Body Works and Victoria's Secret into two companies.</p>.<p>"The spin-off will enable each company to maximize management focus and financial flexibility to thrive in an evolving retail environment and deliver profitable growth," the company said.</p>
<p>Wall Street stocks tumbled in opening trading Tuesday, adding to the prior session's retreat on worries about excess valuation and inflation.</p>.<p>Tech shares, which surged during much of the coronavirus pandemic, continued to see pressure as investor interest shifts to sectors expected to thrive in a reopened economy.</p>.<p>"Valuation always matters," Briefing.com analyst Patrick O'Hare said. "It might be disregarded or rationalized to some ridiculous extent for awhile, but ultimately, it always matters."</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/business/business-news/asia-shares-fall-on-inflation-worries-us-federal-reserve-outlook-984672.html" target="_blank">Asia shares fall on inflation worries, US Federal Reserve outlook </a></strong></p>.<p>About 35 minutes into trading, the Dow Jones Industrial Average was down 0.8 per cent at 34,475.66.</p>.<p>The broad-based S&P 500 also fell 0.8 per cent to 4,156.48, while the tech-rich Nasdaq Composite Index dropped 0.9 per cent to 13,284.28.</p>.<p>All three major indices fell Monday, with the Dow snapping a three-day streak of records and the Nasdaq sinking 2.6 per cent.</p>.<p>Among individual companies, L Brands fell 3.0 per cent after it announced it would split Bath & Body Works and Victoria's Secret into two companies.</p>.<p>"The spin-off will enable each company to maximize management focus and financial flexibility to thrive in an evolving retail environment and deliver profitable growth," the company said.</p>