How major USA stock indexes fared Tuesday

How major USA stock indexes fared Tuesday

How major USA stock indexes fared Tuesday

US market indexes were lower on Tuesday.

An afternoon recap of the day's most important business news, delivered weekdays.

Casino operators and equipment companies got a boost from a Supreme Court decision that cleared the way for states to legalize sports betting.

Home Depot dropped 1.4 percent on weaker-than-expected sales, partly because of inclement weather. The S&P 500 index fell 18.69 points, or 0.7% to 2,711.44.

The Dow lost 193 points, or 0.8 percent, to 24,706.41.

The Nasdaq fell 0.8 percent, to 7,351.63.

In small-caps, the Russell 2000 closed at 1,600.34 with no change. A move in the yield above 2.9 percent earlier this year triggered a correction for US equities.

A surge in US government bond yields to their highest level in nearly seven years sent Wall Street shares sliding on Tuesday after strong retail sales data stoked inflation concerns and investors fretted about looming trade talks between the United States and China.

Meghan Markle seeks respect for dad after report he'll skip wedding
There are now doubts about whether Thomas Markle plans to attend Saturday's royal wedding between his daughter and Prince Harry . Samantha took the fall and said it was her idea, "I have to say, I am entirely the culprit ".

USA companies that could benefit from a rescue of the struggling Chinese telecommunications company ZTE rallied Monday. Acacia Communications also grew by 8.7%.

President Donald Trump tweeted over the weekend that the USA could ease sanctions on ZTE. Losers led winners by a 2-1 margin on the NYSE and by 6-to-5 on the Nasdaq.

The S&P 500 rose 9 points, or 0.3 percent, to 2,736.

The yield on the 10-year Treasury rose to 3.07 percent from 3 percent late Monday, the highest level since July 2011 for the yield, which is used to set interest rates on mortgages and other loans.

Among the technology stocks pressuring the overall market, Alphabet Inc., the parent company of Google, fell 2%, while Facebook Inc. lost 1.2%.

Among the S&P industry groups, the rate-sensitive real estate space ended at the bottom of the standings with a 1.7% loss, including a 3.8% rout in the iShares U.S. Home Construction ETF.

JAPAN ECONOMY: Japan's economy contracted at an annualized rate of 0.6 percent in the January-March quarter, as private investment and public spending declined, according to Cabinet Office data released Wednesday.

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