US stocks dip; small caps slump

The S&P 500 fell 0.3% in a day of widespread losses, as the number of constituents that dropped outnumbered those that rose by 218.

The Nasdaq 100 had a smaller retreat of 0.2%, while the Russell 2000 tumbled 1.8% in its worst session in over two months.

Most sectors fell. Materials, health care, and consumer discretionary fell more than 1% as Tesla tumbled 6.1%, giving back some of its massive postelection gains. Pockets of strength came from communication services, buoyed by a solid advance from Netflix.

Tyson Foods was a standout performer, up 6.5% in its best day since February 2022 on the strength of its chicken business.

Bonds fell, with 10-year Treasury yields climbing back toward their postelection highs. The US dollar extended its advance, with the Dollar Spot Index up 2.4% since November 5.

Updated to correct sector performance as of 5:22 p.m. 11/12/2024.

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