The Dow Jones Industrial Average sank 879 points, or 1.9%, while the S&P 500 slid 2.71% and the Nasdaq Composite plunged 3.56%.
U.S. stocks extended their steepest decline in months on Tuesday, as the Dow, S&P 500, and Nasdaq all recorded losses. Investor uncertainty heightened following conflicting tariff updates, sparking concerns of an impending recession. Eric Lynch from Scharf Investments attributes the market volatility to President Trump's policy timeline, emphasizing the challenges of balancing short-term gains with long-term economic restructuring. The S&P 500 briefly entered correction territory, marking its largest drop since early August with a nearly 3.5% decline over two sessions. Individual stocks like Kohl's, Dick's Sporting Goods, and major airlines like American and Delta also saw significant declines, impacting market sentiment. Citigroup's recent downgrade to 'neutral' further underscored the cautious outlook on U.S. equities.
Analysts and investors said Intel was likely to be removed from the Dow, pointing to a near 60% decline in the company's shares this year that has made it the worst performer on the index and left it with the lowest stock price on the price-weighted Dow
The S&P 500 and Nasdaq ended lower on the rotation out of technology stocks whose outsized gains have led this year's rally. Still, nine of the S&P 500's 11 major industry sectors gained ground.
The S&P 500 and Nasdaq ended lower on the rotation out of technology stocks whose outsized gains have led this year's rally. Still, nine of the S&P 500's 11 major industry sectors gained ground.
The S&P 500 and Nasdaq took a breather on May 17 after a weeks-long rally underpinned by hopes for interest rate cuts, but the Dow closed above 40,000 mark for the first time to end the fifth week of advances in a row. Watch to know more.
Data on Wednesday showed cooling consumer price inflation, although that was offset on Thursday by news that U.S. jobless claims fell in the latest week and by figures showing U.S. import prices increased 0.9% last month.
Popular meme stocks GameStop and AMC Entertainment slid 16% and 8.9%, respectively
The Institute for Supply Management (ISM) said its manufacturing PMI increased to 50.3 last month, the highest and first reading above 50 since September 2022, from 47.8 in February.
Merck & Co advanced 4.96% as the best performer on the Dow after the U.S. Food and Drug Administration approved its therapy for adults suffering from a rare lung condition.
Stocks struggled for upward momentum even as Tesla gained 2.92% after CEO Elon Musk unveiled the electric-vehicle maker's one-month trial of its Full Self-Driving technology to existing and new customers in the United States.
Foreign institutional investors (FII) bought shares worth Rs 1,088.76 crore, whereas domestic institutional investors (DII) sold shares worth Rs 333.70 crore on July 25, provisional data from the National Stock Exchange (NSE) shows.
Stronger than expected economic data pushed Treasury yields higher and steered investors toward economically sensitive sectors as recession fears eased. But buyers shied away from some rate-sensitive growth sectors due to concerns the Fed would keep interest rates higher for longer.
Lifting the Nasdaq, shares of Alphabet Inc (GOOGL.O) rose 4.3%, a day after Google rolled out more artificial intelligence products to take on competition from Microsoft Corp (MSFT.O). Microsoft shares eased 0.7% and were among the biggest negative influences on the S&P 500 and Nasdaq.
Economically sensitive transport stocks had their weakest day in 11 months, and bank stocks fell as regional bank First Republic hit a record low. Investors have been jittery about the banking sector since the recent failure of two U.S. banks.
Trends on the SGX Nifty indicate a mildly negative start for the broader index in India, as the index lost 35 points to trade at 17,844 level on the Singaporean Exchange from its April 12 closing of 17,812, Wall Street ends down and European and Asian markets reporting tepid trading
Trends in the SGX Nifty indicate a mildly positive start for the broader index on Tuesday with a gain of 14 points after Nifty closed 24 points higher at 17,624 on Monday amid positive trading in the West and in Asian markets
Investors are concerned about a banking contagion and are seeking safety in gold.
Dow Inc. will take a charge of $550 million to $725 million in the first quarter. This mostly includes severance and related benefit costs; costs related to exit and disposal activities and asset write-downs and write-offs.
After two weeks of mostly steady losses on the U.S. stock market, the Dow Jones Industrial Average (.DJI) confirmed it has been in a bear market since early January.
The S&P 500 also came close to breaking above its 200-day moving average, a key technical level. The benchmark index has not closed above that level since early April.
Initially, all three major U.S. stock indexes sold off sharply in the wake of second-quarter earnings from JPMorgan Chase & Co and Morgan Stanley. Both reported slumping profits and warned of impending economic slowdown.
In markets, there’s turbulence, then there’s whatever you call the last two days, when a 900-point Dow rally was followed 12 hours later by a 1,000-point decline.
Russian forces bombarded the outskirts of Kyiv and a besieged city in northern Ukraine, a day after promising to scale down operations.
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