Stocks fell on Wall Street, pulled down by losses in the same big tech companies that have been the main drivers of the market’s rally so far this year.
The S&P 500 slid 1.2% Tuesday. The Dow Jones Industrial Average lost 0.5%. The drops in tech pulled the Nasdaq composite down 2%.
Palantir Technologies, which had more than doubled so far this year, slumped 7.9% despite reporting results that beat analysts’ forecasts. Nvidia also reversed course with a loss of 4%.
Metsera jumped after a bidding war for the drug company heated up with a bid from Novo Nordisk.
On Tuesday:
The S&P 500 fell 80.42 points, or 1.2%, to 6,771.55.
The Dow Jones Industrial Average fell 251.44 points, or 0.5%, to 47,085.24.
The Nasdaq composite fell 486.09 points, or 2%, to 23,348.64.
The Russell 2000 index of smaller companies fell 43.90 points, or 1.8%, to 2,427.34
For the week:
The S&P 500 is down 68.65 points, or 1%.
The Dow is down 477.63 points, or 1%.
The Nasdaq is down 376.32 points, or 1.6%.
The Russell 2000 is down 52.04 points, or 2.1%.
For the year:
The S&P 500 is up 889.92 points, or 15.1%.
The Dow is up 4,541.02 points, or 10.7%.
The Nasdaq is up 4,037.84 points, or 20.9%.
The Russell 2000 is up 197.18 points, or 8.8%.
The Associated Press
