How major US stock indexes fared Tuesday 5/16/2023
Most stocks fell on Wall Street after Home Depot warned of flagging sales, the latest sign that the economy may be cooling.
Home Depot's warning of flagging sales was the latest dispiriting signal in an economy that is under pressure.
The S&P 500 fell 0.6% on Tuesday and four of the five stocks that make up the index ended lower. The Dow dropped 1%, and the Nasdaq also fell.
Home Depot has cut its financial projections for the coming year because it is experiencing pressure in its entire business. Retailers have been under scrutiny because the resilient spending of households has kept the economy from sliding into recession. The energy stocks fell as well, but Big Tech was able to limit the losses.
Tuesday:
The S&P500 fell 26.38 point, or 0.6% to 4,109.90.
The Dow Jones Industrial Average dropped 336.46 point, or 1% to 33,012.14.
The Nasdaq Composite fell by 22.16 points or 0.2%, to 12,343.05.
Russell 2000, an index of smaller companies, fell by 25.37 points or 1.4% to 1736.18.
This week's theme:
The S&P500 is down by 14.18 points or 0.3%.
Dow Jones is down by 288.48 or 0.9%.
The Nasdaq has gained 58.31 or 0.5%.
Russell 2000 down by 4.67 points or 0.3%
The year:
The S&P is up 270.40 or 7%.
The Dow Jones is down by 135,11 points or 0.4%.
The Nasdaq has gained 1,876.57 or 17.9%.
Russell 2000 down by 25.06 points or less than 1.4%