Stocks fell on Wall Street, pulled down by losses in the same big tech companies that have been the main drivers of the market’s rally so far this year.
The S&P 500 slid 1.2 percent Tuesday. The Dow Jones Industrial Average lost 0.5 percent. The drops in tech pulled the Nasdaq composite down 2 percent.
Palantir Technologies, which had more than doubled so far this year, slumped 7.9 percent despite reporting results that beat analysts’ forecasts. Nvidia also reversed course with a loss of 4 percent.
Metsera jumped after a bidding war for the drug company heated up with a bid from Novo Nordisk.
On Tuesday:
The S&P 500 fell 80.42 points, or 1.2 percent, to 6,771.55.
The Dow Jones Industrial Average fell 251.44 points, or 0.5 percent, to 47,085.24.
The Nasdaq composite fell 486.09 points, or 2 percent, to 23,348.64.
The Russell 2000 index of smaller companies fell 43.90 points, or 1.8 percent, to 2,427.34.
For the week:
The S&P 500 is down 68.65 points, or 1 percent.
The Dow is down 477.63 points, or 1 percent.
The Nasdaq is down 376.32 points, or 1.6 percent.
The Russell 2000 is down 52.04 points, or 2.1 percent.
For the year:
The S&P 500 is up 889.92 points, or 15.1 percent.
The Dow is up 4,541.02 points, or 10.7 percent.
The Nasdaq is up 4,037.84 points, or 20.9 percent.
The Russell 2000 is up 197.18 points, or 8.8 percent.
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