Dow transports tumble toward first back-to-back 3% declines in nearly 4 years, led by airlines weakness

The Dow Jones Transportation Average tumbled 339 points, or 3.2%, in afternoon trading with all 20 components losing ground, adding to the 3.7% selloff the previous session. That puts the transport sector tracker, which many view as an economic indicator, on track for the first back-to-back 3+% declines since June 27, 2016. Back then, the Dow transports fell 4.6% and 3.1%, then followed that with a four-day rally worth 6.5%. On Tuesday, the selloff was led by airline companies, as shares of American Airlines Group Inc. tumbled 8.3%, United Airlines Holdings Inc. dropped 6.4% and Southwest Airlines Co. slumped 6.4%. Meanwhile, the Dow Jones Industrial Average slid 584 points, or 2.1%, after sliding 1,032 points, or 3.6% on Monday.

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