In This Article:
U.S. stocks closed lower on Wall Street as AI mania loses more steam and as more companies pull their financial forecasts because of uncertainty created by President Donald Trump’s tariffs.
The S&P 500 fell 0.8% Tuesday. The drop came a day after the index broke a nine-day winning streak, its longest such run in more than 20 years. The Dow Jones Industrial Average fell 0.9%, and the Nasdaq composite sank 0.9%.
Palantir Technologies was one of the heaviest weights on the market, even though the AI company reported a profit for the latest quarter that met analysts’ expectations.
On Tuesday:
The S&P 500 fell 43.47 points, or 0.8%, to 5,606.91.
The Dow Jones Industrial Average fell 389.83 points, or 0.9%, to 40,829.
The Nasdaq composite fell 154.58 points, or 0.9%, to 17,689.66.
The Russell 2000 index of smaller companies fell 21.07 points, or 1.1%, to 1,983.19.
For the week:
The S&P 500 is down 79.76 points, or 1.4%.
The Dow is down 488.43 points, or 1.2%.
The Nasdaq is down 288.07 or 1.6%.
The Russell 2000 is down 37.55 points, or 1.9%.
For the year:
The S&P 500 is down 274.72 points, or 4.7%.
The Dow is down 1,715.22 points, or 4%.
The Nasdaq is down 1,621.13 or 8.4%.
The Russell 2000 is down 246.97 points, or 11.1%.