Tuesday, the Dow lost 105.32 points (0.58%) to finish at 18,037.10, the NASDAQ closed 35.56 points (0.69%) lower at 5,153.58, and the S&P 500 decreased 14.43 points (0.68%) to 2,111.72. The Russell 2000 was down 13.35 points (1.12%) at 1,178.03, and the Wilshire 5000 fell 159.02 points (0.72%) to 21,913.48.

On the NYSE, 3.1 billion shares traded, with declining issues outnumbering advancing issues more than 3 to 1. On the NASDAQ, 2.9 billion shares changed hands, with a more than 2 to 1 lead for decliners.

ON THIS DATE: In 1776, during the American Revolutionary War, William Demont, became the first traitor of the American Revolution when he deserted. In 1783, U.S. General George Washington gave his “Farewell Address to the Army” near Princeton, New Jersey. In 1867, “Harpers Bazaar” magazine was founded. In 1889, North Dakota and South Dakota were admitted into the union as the 39th and 40th states. In 1920, the first commercial radio station in the U.S., KDKA of Pittsburgh, Pennsylvania, began regular broadcasting. In 1948, Harry S. Truman defeated Thomas E. Dewey for the U.S. presidency. The Chicago Tribune published an early edition that had the headline “DEWEY DEFEATS TRUMAN.” The Truman victory surprised many polls and newspapers. In 1962, U.S. President Kennedy announced that the U.S.S.R. was dismantling the missile sites in Cuba. In 1966, the Cuban Adjustment Act allowed 123,000 Cubans to apply for permanent residence in the U.S. In 1983, U.S. President Ronald Reagan signed a bill establishing a federal holiday on the third Monday of January in honor of civil rights leader Dr. Martin Luther King Jr. In 1992, Magic Johnson retired from the NBA again, this time for good because of fear due to his HIV infection. In 1993, Christie Todd Whitman was elected the first woman governor of New Jersey.