Renewed concerns about economic growth in Europe and China weighed on markets on Tuesday, causing stocks to erase all of the previous day’s gains, the Associated Press reports. The Dow was down 140.25 points (0.78%) at 17,750.91, the NASDAQ lost 54.37 points (1.13%) to finish at 4,763.22, and the S&P 500 decreased 18.06 points (0.87%) to 2,063.37. The Russell 2000 fell 19.17 points (1.68%) to 1,121.75, and the Wilshire 5000 closed 228.00 points (1.06%) lower at 21,311.90.

On the NYSE, 3.1 billion shares traded, with declining issues outnumbering advancing issues 3 to 1. On the NASDAQ, 2.7 billion shares changed hands, with a near 3 to 1 lead for decliners.

ON THIS DATE: In 1626, Dutch explorer Peter Minuit landed on Manhattan Island. Native Americans later sold the island (20,000 acres) for $24 in cloth and buttons. In 1715, a French manufacturer debuted the first folding umbrella. In 1886, Chichester Bell and Charles S. Tainter patented the gramophone. It was the first practical phonograph. In 1942, the Battle of the Coral Sea commenced as American and Japanese carriers launched their attacks at each other. In 1942, the United States began food rationing. In 1970, the Ohio National Guardsmen opened fire on students during an anti-Vietnam war protest at Kent State University. Four students were killed and nine others were wounded. In 1979, Margaret Thatcher became Britain’s first woman prime minister. In 2012, in Las Vegas, Google received the first self-driving vehicle testing license.