Markets decline after four-day rally
The stock market fell sharply Tuesday after a surprising drop in consumer confidence reminded investors of the fragility of the economic recovery.
Stocks had rallied for four straight days on upbeat earnings news. But while Home Depot Inc., Sears Holdings Corp., Macy's Inc. and Target Corp. all reported better-than-expected earnings Tuesday, the companies indicated that sales growth is lagging.
The Dow Jones industrial average fell 100.97 points, or 1 percent, to 10,292.41. The Standard & Poor's 500 index dropped 13.41, or 1.2 percent, to 1,094.60, while the Nasdaq composite index fell 28.59, or 1.3 percent, to 2,213.44.
About two stocks fell for every one that rose on the New York Stock Exchange; consolidated volume was 4.54 billion shares. - AP
Memorial Day 2026: NewsdayTV honors those we've lost A brave young patriot receives a burial 83 years after being lost in war. Volunteers restore a Revolutionary War cemetery. A Gold Star mom makes it her mission to honor her son's sacrifice. NewsdayTV's Virginia Huie shares three stories in honor of Memorial Day.
Memorial Day 2026: NewsdayTV honors those we've lost A brave young patriot receives a burial 83 years after being lost in war. Volunteers restore a Revolutionary War cemetery. A Gold Star mom makes it her mission to honor her son's sacrifice. NewsdayTV's Virginia Huie shares three stories in honor of Memorial Day.
