Wall Street continued its decline as concerns grew among U.S. consumers regarding inflation and the impact of tariffs. The S&P 500 Index witnessed a 0.5% drop on Tuesday, marking its fourth consecutive loss since reaching a record high last week. The Nasdaq composite experienced an even steeper fall, plunging 1.4% as prominent tech stocks such as Nvidia and Tesla, which have been market standouts, saw significant declines.
Despite the overall drop, a narrow majority of U.S. stocks managed modest gains. Notably, Home Depot’s positive profit report contributed to its upward climb, which in turn helped the Dow Jones Industrial Average fare better. The Dow increased by 0.4%. As investors sought more stable investment options, Treasury yields decreased, and Bitcoin’s value also took a hit.
By the numbers on Tuesday: The S&P 500 decreased by 28 points, landing at 5,955.25, or a drop of 0.5%. The Dow Jones Industrial Average, conversely, saw an increase of 159.95 points, rising to 43,621.16 with a 0.4% gain. The Nasdaq composite experienced a substantial reduction of 260.54 points, concluding at 19,026.39, equivalent to a 1.4% decline. Meanwhile, the Russell 2000 index, representing smaller companies, decreased by 8.18 points, or 0.4%, to finish at 2,170.08.
For the week so far, performance metrics reveal that the S&P 500 has slid by 57.88 points, which equates to a 1% decrease. The Dow has risen by 193.14 points, amounting to a 0.4% increase. The Nasdaq is down by 497.62 points, representing a 2.5% decline. Finally, the Russell 2000 has decreased by 25.27 points, resulting in a 1.2% drop.
Looking at the year-to-date performance: The S&P 500 has increased by 73.62 points, signifying a 1.3% rise. The Dow has climbed by 1,076.94 points, or 2.5%. However, the Nasdaq has dropped by 284.41 points, equating to a decrease of 1.5%. The Russell 2000 has decreased by 60.08 points, reflecting a 2.7% drop.
