Wall Street falls as US consumers get more pessimistic about inflation, tariffs
NEW YORK — Some of Wall Street’s brightest stars lost more of their shine Tuesday after another report said U.S. households are getting more pessimistic about the economy.
The S&P 500 fell 0.5% and had been down as much as 1.2% during the day. It was the fourth straight drop for the main measure of the U.S. stock market’s health after it set an all-time high last week.
The Nasdaq composite sank 1.4% as several influential Big Tech companies lost momentum and screeched lower. But the majority of stocks nevertheless rose, which helped the Dow Jones Industrial Average add 159 points, or 0.4%.
The U.S. stock market has been generally struggling since the middle of last week after several weaker-than-expected reports on the economy thudded onto Wall Street. On Tuesday, the latest said confidence among U.S. consumers is falling by more than economists expected.