Dow Jones suffers its worst session in June
Major U.S. indexes closed mixed on Tuesday as Nvidia shares returned to gains and retail stocks fell.
Investors are looking ahead to Friday's personal consumption expenditures price index report, the Federal Reserve's preferred gauge of inflation, which is expected to show a moderation in price pressures.
Performance of major US indices:
The Dow Jones index fell about 0.8%, or 300 points, in Tuesday's session, recording its biggest daily loss since the beginning of June, after a series of gains that lasted for five sessions.
While the Nasdaq Composite Index rose 1.3% to end a three-session losing streak, supported by major technology stocks led by Nvidia and Alphabet.
The S&P 500 closed down 0.4%, led by a 1.8% jump in technology stocks.
Walmart stocks
Walmart shares fell more than 2%, recording the biggest daily loss in 7 months, as the company lost $12 billion in market value in one day.
The retail giant's losses came after the company's chief financial officer described the current second quarter as its most challenging quarter at a European investor conference in London.
Pressures deepened after a survey from the Conference Board showed U.S. consumer confidence fell slightly in June amid concerns about the economic outlook.
Trump Media Shares
Trump Media shares jumped 9% on Tuesday, extending gains to a third straight session ahead of the first 2024 presidential debate on Thursday night.
Former US President Donald Trump will face current President Joe Biden in a debate that is different from the 2020 debates, as microphones will be muted when the candidate is not answering questions, and there will be no audience.
