US stocks fall; small-cap slump deepens
The S&P 500 slumped 0.6% in its biggest loss so far this month, with widespread declines. Over 350 constituents in the S&P 500 fell.
The Nasdaq 100 gave back 0.7%, while the Russell 2000 continued its string of retreats with a 1.4% decline, putting it down 4% over the past three sessions.
Energy was the lone S&P 500 sector ETF to go positive on the day. Industrials, healthcare, and consumer discretionary were the worst performing, each down more than 1%.
Tapestry was the best-performing S&P 500 constituent as investors warmed to the dissolution of its merger agreement with the owner of Michael Kors and Jimmy Choo, preferring management’s plan to boost stock buybacks. Shares rose 12.8% to their highest level since 2013.
Disney’s better-than-expected results and strong profit outlook for 2025 propelled shares 6.2% higher on the day.
First Solar had its best day in over two months, up 7.1% after struggling significantly in the wake of the election results. Renewable energy is not seen as a priority for the incoming Trump administration.
Super Micro Computer continues to tumble under the weight of alleged accounting irregularities and delays to key financial filings, with shares off 11.4%.
