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 discouraging signal for an economy under pressure.
The S&P 500 lost 0.6% Tuesday, and more than four out of five stocks in the index closed lower. The Dow fell 1% and the Nasdaq slipped.
Home Depot said it’s seeing pressure across its business, and it cut its financial forecasts for the year. Retailers are under the microscope because resilient spending by households has been one of the main positives keeping the economy from sliding into a recession. Energy stocks also fell, while Big Tech limited the losses.
The S&P 500 fell 26.38 points, or 0.6%, to 4,109.90.
The Dow Jones Industrial Average fell 336.46 points, or 1%, to 33,012.14.
The Nasdaq composite fell 22.16 points, or 0.2% to 12,343.05.
The Russell 2000 index of smaller companies fell 25.37 points, or 1.4%, to 1,736.18.
For the week:
The S&P 500 is down 14.18 points, or 0.3%.
The Dow is down 288.48 points, or 0.9%.
The Nasdaq is up 58.31 points, or 0.5%.
The Russell 2000 is down 4.67 points, or 0.3%.
For the year:
The S&P 500 is up 270.40 points, or 7%.
The Dow is down 135.11 points, or 0.4%.
The Nasdaq is up 1,876.57 points, or 17.9%.
The Russell 2000 is down 25.06 points, or less than 1.4%.