The US stock market failed to hold early gains and finished lower for second session in row on Tuesday, 18May 2021, as selloff pressure accelerated on weaker than expected housing starts data and on caution ahead to the release of the minutes of the Federal Reserve's April monetary policy meeting for clues about monetary tightening.
At the close of trade, the Dow Jones Industrial Average index declined 267.13 points, or 0.78%, to 34,061. The S&P 500 index was down 35.46 points, or 0.85%, at 4,128. The tech-heavy Nasdaq Composite Index dropped 75.41 points, or 0.56%, to 13,304.
Total 9 out of 11 S&P 500 sectors closed lower, with energy (down 2.63%), industrials (down 1.47%), financials (down 1.35%), communication services (down 1.23%), and materials (down 1.09%) sectors being notable losers, while realty (up 0.17%) sector was notable gainers.