Stocks fell Tuesday, taking a breather from the rally that lifted them to record highs, as traders sifted through the latest corporate earnings reports.
The Dow Jones Industrials sank 85.23 points to 42,979.99.
The S&P 500 index dropped 19.84 points to 5,840.01.
The NASDAQ Composite weakened 151.74 points to 18,350.95.
Nvidia, Broadcom and other chip stocks hit their lows of the session after Dutch semiconductor-equipment maker ASML tumbled 17%. The company’s CEO warned of “cautiousness” among customers and said a “recovery is more gradual than previously expected.” UnitedHealth was down 7% after the company trimmed its full-year earnings outlook. Bank of America ticked 2% higher on better-than-expected results.
Wall Street is coming off a winning session that propelled the S&P 500 and Dow to all-time highs. Notably, the Dow added more than 200 points to finish above the 43,000 mark for the first time.
Prices for the 10-year Treasury picked up some territory, lowering yields to 4.04% from Monday’s 4.07%. Treasury prices and yields move in opposite directions.
Oil prices ditched $3.81 to $70.22 U.S. a barrel.
Gold prices added $19.40 to $2,685.00 U.S. an ounce
