U.S. Stocks Decline at Market Close; Dow Jones Industrial Average Falls 1.29%

U.S. stocks experienced a decline following the market close on Tuesday, primarily driven by losses in various sectors.

At the end of trading on the NYSE, the main index fell by 1.29%, reaching a new three-month low. The S&P 500 index dropped 1.37%, while the NASDAQ composite index saw a decrease of 1.87%.

Among the day’s top performers was Verizon Communications Inc., which rose 0.69%, gaining 0.22 points to close at 31.98. Intel Corporation also fared well, increasing 0.65% or 0.23 points to finish at 35.69, and Boeing Co. saw a 0.58% rise, up 1.09 points to 188.92 during late trading.

Conversely, the day’s worst performers included Goldman Sachs Group Inc., which sank 3.89% or 12.38 points to close at 306.12. American Express Company declined by 2.91% or 4.35 points, ending at 145.13, while Microsoft Corporation dropped 2.61% or 8.41 points to finish at 313.39.

On the S&P 500, the leading stocks included NiSource Inc., which rose 3.37% to 23.96, FirstEnergy Corporation, which increased 3.10% to settle at 33.61, and CMS Energy Corporation, which gained 2.57% to close at 51.87.

The worst performers on this index were McCormick & Company, which fell 8.46% to 68.40, DISH Network Corporation, which dropped 7.87% to settle at 5.15, and Newell Brands Inc., which saw a decline of 7.27%, closing at 8.03.

On the NASDAQ Composite, Vericity Inc. led the gains, surging 87.18% to 11.10, followed by POINT Biopharma Global Inc., which rose 84.89% to 12.36, and Alx Oncology Holdings, which gained 56.13% to close at 7.51.

The index’s laggards included SmileDirectClub Inc., falling 53.45% to 0.08, Capstone Green Energy Corp, which lost 37.40% to close at 0.31, and Femasys Inc., down 35.99% to 2.49.

Declines outnumbered advances on the New York Stock Exchange by a margin of 2,407 to 541, with 52 remaining unchanged. On the Nasdaq, 2,704 stocks fell compared to 794 that advanced, while 119 ended unchanged.

Notably, shares of McCormick & Company reached a three-year low, while DISH Network hit a five-year low. In contrast, Vericity achieved a 52-week high, and SmileDirectClub fell to all-time lows. POINT Biopharma also saw a 52-week high, while Capstone Green Energy reached an all-time low.

The volatility index, measuring implied volatility of S&P 500 options, increased by 12.32% to a three-month high of 19.78.

In commodities, December gold futures decreased by 0.39% to $1,839.95 an ounce. In the oil market, crude oil for November delivery rose 0.80% to $89.53 a barrel, while the December Brent oil contract increased 0.44% to $91.11 a barrel.

In currency trading, the EUR/USD pair remained virtually unchanged at 1.05, while USD/JPY fell by 0.69% to 148.82. The U.S. Dollar Index futures rose by 0.14% to 106.75.