Nasdaq Composite ends lower by 0.9%

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Lumber Liquidators’ stock plunged toward biggest one-day selloff in over 2 years

Shares of Lumber Liquidators Holdings Inc. tumbled 16.7% in afternoon trade Tuesday, putting it on track to close at a 13-month low, after the hardwood flooring seller reported before the open a first-quarter loss that was wider than expected. The stock was headed for the biggest one-day selloff since Feb. 22, 2016, when it plunged 19.8%, and the biggest one-day post-earnings selloff since it tumbled 27.7% on Aug. 5, 2015, after second-quarter 2015 results were reported. Back then, the company was still embroiled in a scandal over Chinese-made laminate flooring, in which a “60 Minutes” report alleged that it contained higher-than-accepted levels of a carcinogenic. Lumber Liquidator shares have plummeted 36% year to date, while the S&P 500 has slipped 1%.

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