Wall Street fell to a fifth straight loss.
The S&P 500 slipped 0.4% Thursday. The Dow Jones Industrial Average dropped 152 points, and the Nasdaq composite fell 0.3%.
Walmart weighed on the market after delivering a weaker-than-expected profit report for the spring, while Nvidia and other Big Tech stocks held a bit steadier following two days of sharp swings.
Treasury yields rose after a report on U.S. business activity dampened Wall Street’s hopes for coming cuts to interest rates. All the S&P 500’s losses have been relatively modest, but it has not risen since setting an all-time high last Thursday.
On Thursday:
The S&P 500 fell 25.61 points, or 0.4%, to 6,370.17
The Dow Jones Industrial Average fell 152.81 points, or 0.3%, to 44,785.50.
The Nasdaq composite fell 72.55 points, or 0.7%, to 21,100.31.
The Russell 2000 index of smaller companies rose 4.74 points, or 0.2%, to 2,274.10.
For the week:
The S&P 500 is down 79.63 points, or 1.2%.
The Dow is down 160.62 points, or 0.4%.
The Nasdaq is down 522.66 points, or 2.4%.
The Russell 2000 is down 12.43 points, or 0.5%.
For the year:
The S&P 500 is up 488.54 points, or 8.3%.
The Dow is up 2,341.28 points, or 5.3%.
The Nasdaq is up 1,789.52 points, or 9.3%.
The Russell 2000 is up 43.94 points, or 2%.