By Georgi Kantchev and Georgi Kantchev The Wall Street Journal Biography @georgikantchev [email protected] Allison Prang Allison Prang The Wall Street Journal Biography @allisonprang [email protected] Updated May 15, 2018 5:40 p.m. ET 6 COMMENTS
U.S. stocks fell Tuesday, with the Dow Jones Industrial Average breaking an eight-session streak of gains, as investors parsed mixed economic data, rising government-bond yields and continuing trade negotiations between the U.S. and China.
A rare spurt of synchronized global growth at the end of last year and the beginning of 2018 has underpinned stock markets around the world, so investors are sensitive to any signs of a slowdown. In the U.S., data have also been coming in somewhat below expectations in recent months.
The Dow Jones Industrial Average declined 193 points, or 0.8%, to 24706.41, after earlier dropping as much as 270 points. The S&P 500 dropped 18.68 points, or 0.7%, to 2711.45, and the Nasdaq Composite fell 59.69 points, or 0.8%, to 7351.63.
Through Monday, the blue-chip index had risen 974 points, or 4.1%, since May 3 as stocks appeared to be regaining their footing after several months of rocky trading. But Tuesday’s declines pushed the Dow industrials back into negative territory for the year. A number of factors, including trade concerns, geopolitical tensions, signs of a pickup in inflation and peaking corporate earnings, have kept some investors on the sidelines.
The U.S. Commerce Department said Tuesday that U.S. retail sales rose 0.3% on an adjusted basis in