US stocks slump for second straight day, Domino’s delivers worst day in 16 years
Broad-based declines across the S&P 500 pushed the benchmark index down 0.8% on the session.
Small caps also gave back more of their recent gains, with the Russell 2000 Index falling 1.8%, while tech-heavy Nasdaq 100 off 0.5%.
Shares of Domino’s had their worst day since 2008, down 13.6% after the company posted slightly underwhelming same-store sales growth and shelved its targets for international store growth.
Energy was the best-performing S&P sector ETF, up a meager 0.2%. Health care stocks lagged, dragged down by Eli Lilly’s 6.3% decline on news that a drug trial for an obesity pill from one of its competitors, Roche, yielded encouraging results.
DR Horton was the best-performing S&P 500 constituent, up 10.1% on strong profit margins and a higher than expected closings target for the entry-level homebuilder.
Chips rebounded following Wednesday’s colossal losses, with the VanEck Semiconductor ETF up 0.5% and Nvidia and Broadcom each gaining more than 2.5%. TSMC opened more than 4% higher after posting better than expected quarterly results and upgrading its sales guidance in light of AI-linked demand. However, those gains largely faded and the stock ended up just 0.4%.
