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U.S. shares lower at close of trade; Dow Jones Industrial Average down 2.60%

Published 05/08/2024, 21:30
Updated 05/08/2024, 21:35
© Reuters.  U.S. shares lower at close of trade; Dow Jones Industrial Average down 2.60%
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Investing.com – U.S. equities were lower at the close on Monday, as losses in the Technology, Financials and Utilities sectors propelled shares lower.

At the close in NYSE, the Dow Jones Industrial Average declined 2.60% to hit a new 1-month low, while the S&P 500 index lost 3.00%, and the NASDAQ Composite index declined 3.38%.

The biggest gainers of the session on the Dow Jones Industrial Average were 3M Company (NYSE:MMM), which fell 0.50% or 0.63 points to trade at 124.61 at the close. Procter & Gamble Company (NYSE:PG) fell 1.19% or 2.02 points to end at 168.06 and Caterpillar Inc (NYSE:CAT) was down 1.27% or 4.07 points to 316.80 in late trade.

Biggest losers included Intel Corporation (NASDAQ:INTC), which lost 6.40% or 1.38 points to trade at 20.11 in late trade. Apple Inc (NASDAQ:AAPL) declined 4.85% or 10.67 points to end at 209.19 and Cisco Systems Inc (NASDAQ:CSCO) shed 4.11% or 1.92 points to 44.74.

The top performers on the S&P 500 were Kellanova (NYSE:K) which rose 16.23% to 73.20, Tyson Foods Inc (NYSE:TSN) which was up 2.09% to settle at 62.51 and Advanced Micro Devices Inc (NASDAQ:AMD) which gained 1.77% to close at 134.85.

The worst performers were Caesars Entertainment Corporation (NASDAQ:CZR) which was down 6.90% to 33.20 in late trade, Walgreens Boots Alliance Inc (NASDAQ:WBA) which lost 6.62% to settle at 10.72 and Etsy Inc (NASDAQ:ETSY) which was down 6.57% to 55.45 at the close.

The top performers on the NASDAQ Composite were Greenlane Holdings Inc (NASDAQ:GNLN) which rose 671.67% to 2.16, TenX Keane Acquisition (NASDAQ:TENK) which was up 192.93% to settle at 36.06 and Xylo Technologies Ltd DRC (NASDAQ:XYLO) which gained 116.88% to close at 3.47.

The worst performers were Conns Inc (NASDAQ:CONN) which was down 46.40% to 0.10 in late trade, Inspirato Inc (NASDAQ:ISPO) which lost 38.57% to settle at 3.87 and Vsee Health Inc (NASDAQ:VSEE) which was down 37.18% to 2.67 at the close.

Declining stocks outnumbered rising ones by 2671 to 225 and 32 ended unchanged; on the Nasdaq Stock Exchange, 2982 fell and 436 advanced, while 83 ended unchanged on the New York Stock Exchange.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 64.90% to 38.57 a new 3-year high.

In commodities trading, Gold Futures for December delivery was down 0.80% or 19.70 to $2,450.10 a troy ounce. Meanwhile, Crude oil for delivery in September rose 0.44% or 0.32 to hit $73.84 a barrel, while the October Brent oil contract rose 0.47% or 0.36 to trade at $77.17 a barrel.

EUR/USD was unchanged 0.45% to 1.10, while USD/JPY fell 1.69% to 144.06.

The US Dollar Index Futures was down 0.48% at 102.50.

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