The US stocks were mostly lower on Tuesday, 04 May 2021, with the Nasdaq Composite and the S&P 500 indexes settling down, while the Dow Jones Industrial Average managed to eke out marginal gains, on profit booking after comments from Treasury Secretary Janet Yellen, who suggested interest rates may have to rise modestly to prevent the economy from overheating amid the recent spike in government spending.
At the close of trade, the Dow Jones Industrial Average index inclined 19.80 points, or 0.06%, to 34,133. The S&P 500 index was down 28 points, or 0.67%, at 4,165. The tech-heavy Nasdaq Composite Index fell 261.61 points, or 1.88%, to 13,634.
All the 11 major S&P 500 sectors were down, with technology, communication services and consumer discretionary falling more than 2% each. The defensive consumer staples, utilities and real estate sectors fell the least.