At the close of trade, the Dow Jones Industrial Average index declined 267.13 points, or 0.78%, to 34,061. The S&P 500 index was down 35.46 points, or 0.85%, at 4,128. The tech-heavy Nasdaq Composite Index dropped 75.41 points, or 0.56%, to 13,304.
Total 9 out of 11 S&P 500 sectors closed lower, with energy (down 2.63%), industrials (down 1.47%), financials (down 1.35%), communication services (down 1.23%), and materials (down 1.09%) sectors being notable losers, while realty (up 0.17%) sector was notable gainers.
Shares in Walmart rose 2.2% after raising its full-year earnings forecast. The company reported a 31.6% drop in profit for the first quarter.
Shares in Home Depot fell 1% despite posting same-store sales above estimates. The company posted a profit of $3.86 per share in the first quarter,
ECONOMIC NEWS: housing starts fell by 9.5% in April to an annual rate of 1.569 million units after rising 19.8% in the previous month. Building permits rose 0.3% to an annual rate of 1.76 million units last month. Chain store sales in the latest week were up 12.6% on a year ago after the 13.3% annual gain in the prior week.
Among Indian ADR, HDFC Bank added 3.27% to $73.99, ICICI Bank added 0.76% to $17.18, and INFOSYS added 0.5% to $18.26. Vedanta rose 2.55% to $15.69 and Tata Motors added 0.05% to $21.91. WNS Holdings added 1.16% to $70 and Wipro added 1.92% to $7.45. Dr Reddys Labs was down 0.35% to $71.75.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
