Wall Street edges back further from its all-time highs
NEW YORK — Wall Street slipped a bit further from its record heights on Tuesday.
The S&P 500 fell 14.61 points, or 0.3%, to 5,203.58 for its third straight modest drop since setting an all-time high.
The Dow Jones Industrial Average dipped 31.31, or 0.1%, to 39,282.33, and the Nasdaq composite fell 68.77, or 0.4%, to 16,315.70.
Stock indexes were modestly higher for much of the day thanks to several Big Tech stocks. Tesla rose 2.9%, and Alphabet ticked up by 0.4%. But a late-day slide by Nvidia ended up helping to pull the market lower. It fell 2.5%.
Krispy Kreme soared 39.4% after it announced a deal where McDonald’s restaurants will sell its doughnuts across the country. It will begin later this year and hopes to be nationwide by the end of 2026.
McCormick, the seller of spices, hot sauces and seasonings, climbed 10.5% after reporting stronger profit for the latest quarter than analysts expected.
Trump Media & Technology Group was another big mover, jumping 16.1%. It was the first day of trading for the company under its new ticker, “DJT,” which are the initials of former President Donald Trump. The company took the place of a shell company that had been trading on the Nasdaq after the two merged.
The stock’s price has shot well beyond what several experts say is reasonable, driven by excitement about Trump’s latest run for the White House. Truth Social, the platform that’s the company’s main asset, is losing money and expects to continue to do so while competing against rivals that likely have many more users.