The S&P 500 Index ($SPX) (SPY) on Tuesday closed down by -0.83%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down by -1.07%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -1.20%. December E-mini S&P futures (ESZ25) fell -0.86%, and December E-mini Nasdaq futures (NQZ25) fell -1.25%.
US stock indexes on Tuesday extended Monday’s slide, with the S&P 500, the Dow Jones Industrial Average, and the Nasdaq 100 posting 1-month lows. The weakness in technology stocks weighed on the overall market, with Amazon.com closing down more than -4% and Microsoft closing down more than -2% after being downgraded by Rothschild & Co Redburn. Also, Home Depot fell more than -6% after cutting its full-year earnings guidance and warning that consumers are cutting back on big-ticket home improvement purchases. Concerns about lofty tech valuations also weighed on chipmakers and the broader market.
