Stocks closed sharply lower Tuesday as materials companies sank along with the prices of oil and copper. Drugmakers slumped, adding to their losses from the day before.

On Tuesday:

The Dow Jones industrial average fell 179.72 points, or 1.1 percent, to 16,330.47.

The Standard & Poor's 500 index declined 24.23 points, or 1.2 percent, to 1,942.74.

The Nasdaq composite lost 72.23 points, or 1.5 percent, to 4,756.72.

For the week:

The Dow is down 54.11 points, or 0.3 percent.

The S&P 500 index is down 15.29 points, or 0.8 percent.

The Nasdaq is down 70.50 points, or 1.5 percent.

For the year:

The Dow is down 1,492.60 points, or 8.4 percent.

The S&P 500 index is down 116.16 points, or 5.6 percent.

The Nasdaq is up 20.67 points, or 0.4 percent.