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 percent 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 percent, and the Nasdaq composite sank 0.9 percent.
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 percent, to 5,606.91.
The Dow Jones Industrial Average fell 389.83 points, or 0.9 percent, to 40,829.
The Nasdaq composite fell 154.58 points, or 0.9 percent, to 17,689.66.
The Russell 2000 index of smaller companies fell 21.07 points, or 1.1 percent, to 1,983.19.
For the week:
The S&P 500 is down 79.76 points, or 1.4 percent.
The Dow is down 488.43 points, or 1.2 percent.
The Nasdaq is down 288.07 or 1.6 percent.
The Russell 2000 is down 37.55 points, or 1.9 percent.
For the year:
The S&P 500 is down 274.72 points, or 4.7 percent.
The Dow is down 1,715.22 points, or 4 percent.
The Nasdaq is down 1,621.13 or 8.4 percent.
The Russell 2000 is down 246.97 points, or 11.1 percent.
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