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Wall Street closed in the red, and the Dow Jones fell 0.78%

Wall Street closed this Tuesday in red. Its main indicator, the Dow Jones, dropped by 0.78% on another day marked by sales in the technology sector.

At the close of the New York Stock Exchange session, the Dow Jones cut 267.13 points to 34,060.66. The selective S&P 500 fell 0.85% or 35.46 points, to 4,127.83.

The Nasdaq composite index lost 0.56% or 75.41 points, to 13,303.64.

By sectors, the losses of energy companies (-2.63%), industrial (-1.47%), and financial companies (-1.35%) stood out.

After a green start, the technology sector yielded 0.82%, with decreases in large firms such as Apple (-1.12%) and Microsoft (-0.86%).

The New York stock market lost its optimism about the opening and reacted to worse-than-expected housing market data and a new round of quarterly results.

According to experts, home construction fell by 9.5% in April to an annualized rate of 1.57 million. It was due to the increase in the prices of materials like wood.

Worries about inflation still disturb the market

Investors continue to operate with uncertainty and concern about the rebound in inflation. It caused stock market declines last week.

Tomorrow they will be awaiting the publication of the minutes of the last monetary policy meeting of the Federal Reserve.

Among the 30 listed on the Dow Jones, the most significant setbacks were for Chevron (-3.08%), Caterpillar (-2.08%), and Dow Inc (-1.96%).

The most relevant gains were for Walmart (2.11%) due to its considerable increase in sales in the first quarter, even though its profit decreased.

Home Depot and Macy’s, which also beat analysts’ expectations with their results, finished with declines of 1.02% and 0.31%, respectively.

On the other hand, AT&T tumbled by 5.80% after announcing yesterday the merger of its entertainment business with Discovery. The latter one sank by 2.72%.

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