U.S. stocks closed lower Tuesday, as investors braced for quarterly earnings and considered valuations. The dollar turned lower against other major currencies. Light sweet crude oil for August delivery dropped 13 cents to $103.40 a barrel on the New York Mercantile Exchange. Gold futures fell 50 cents to $1,316.50 an ounce. The Dow Jones industrial average lost 117.59, or 0.69 percent, to 16,906.62. The broader Standard & Poor's 500 index dropped 13.94, or 0.70 percent, to 1,963.71. The technology-heavy Nasdaq composite index fell 60.07, or 1.35 percent, to 4,391.46.
