Investors punished underperforming earnings reports, pushing the Dow Jones Industrial Average down 0.85% amid broader market caution.
U.S. equities closed lower on Thursday, with the Dow Jones Industrial Average falling 464.05 points, or 0.85%, to 53,890.40. The S&P 500 and Nasdaq Composite saw modest declines of 0.18% and 0.06%, respectively, as earnings season continued to drive volatility.
The Dow’s decline was led by heavyweight stocks, including Boeing (-3.34%), Salesforce (-3.20%), and Honeywell (-2.95%). Weakness in industrial, financial, and healthcare sectors contributed to the index’s underperformance, while the Nasdaq 100 slipped 0.39% despite relative resilience in tech.
SanDisk’s sharp sell-off, despite strong earnings, highlighted investor sensitivity to lofty expectations. Markets rewarded only those companies exceeding forecasts, penalizing even fundamentally solid results that fell short.