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Key Takeaways

• A drop in the February report on consumer confidence sent U.S. equities lower at midday.

• Sempra warned that regulatory issues and increased expenses will negatively impact sales.

• Home Depot's results benefited from demand for materials to help rebuild areas damaged by hurricanes.

U.S. equities declined at midday as a new report showed a big drop in consumer confidence. The Dow Jones Industrial Average, S&P 500, and Nasdaq all fell.

Sempra (SRE) was the worst-performing stock in the S&P 500 after the energy infrastructure provider's results missed estimates and it slashed its outlook on regulatory issues and higher costs.

Shares of Zoom Communications (ZM) slumped when the video conferencing provider's guidance fell short of forecasts with more companies requiring their employees to return to the office rather than work remotely.

Super Micro Computer (SMCI) shares tumbled as the troubled computer servicer maker has yet to produce financial reports required by Nasdaq in order to avoid delisting.

Home Depot (HD) shares advanced when the biggest home-improvement retailer beat profit and sales forecasts as damage caused by two major hurricanes drove up demand for building supplies.

Shares of Solventum (SOLV) rose as the healthcare firm sold its purification and filtration business to Thermo Fisher (TMO) for $4.1 billion.

American Tower (AMT) shares gained after the real estate investment trust (REIT) posted better-than-expected revenue on higher leasing demand from its telecom and wireless carrier clients.

Oil and gold futures slid. The yield on the 10-year Treasury note sank. The U.S. dollar lost ground to the euro, pound, and yen. Prices for most major cryptocurrencies continued their recent slump.

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