Closing Bell: Tilson Shorts Lumber Liquidators; U.S. Stocks Slump

Wall Street followed oil markets lower, returning to a session low by the final hour of trading on Tuesday. Crude prices fell on oversupply concerns even after the Energy Information Administration cut its production forecasts for the next two years. Home Depot (HD) ended the day higher after settling a lawsuit over a massive data breach around two years ago. The home improvement chain agreed to pay nearly $20 million to victims of the 2014 breach. Lumber Liquidators (LL) slumped in the afternoon session after short-seller Whitney Tilson disclosed a new short position. Tilson pointed to a recent investigation that found its products' links to cancer far more prevalent than initially estimated. Citigroup (C) expects revenue from its fixed-income and equities business to decline by 15% in the first quarter, mainly due to a tough comparison to a year earlier.