US stocks fall, S&P 500 sees four consecutive down sessions

Major US stock indexes fell across the board on November 18, as major technology stocks were pressured by valuation concerns, while home improvement retailer Home Depot added to the bearish sentiment after delivering a weaker-than-expected forecast.

Traders at the New York Stock Exchange, USA. Photo: THX/TTXVN

The session marked four consecutive sessions of decline for the S&P 500, its longest losing streak in three months.

At the close, the Dow Jones index fell 498.50 points (1.07%) to 46,091.74 points, while the S&P 500 lost 55.09 points (0.83%) to 6,617.32 points. Meanwhile, the Nasdaq index fell 275.23 points (1.21%) to 22,432.85 points.

Investors were cautious as Nvidia – the market leader and symbol of the artificial intelligence (AI) craze – prepared to announce its financial report after the trading session on November 19. The third-quarter profit reporting season in the US is about to end, but Nvidia's results are still the focus of attention as the market has recently surged thanks to expectations for AI. Nvidia shares fell 2.8% in this session.

Markets are also looking ahead to the September 2025 US jobs report, due on November 20, after a delay due to the prolonged government shutdown. Recent private surveys have shown that the US labor market is cooling. Data released on November 18 showed that the number of Americans receiving unemployment benefits increased sharply from mid-September to mid-October.

Home Depot shares fell 6% after the home improvement retailer issued a disappointing full-year profit forecast and missed third-quarter earnings expectations. Other than Home Depot, most companies that reported third-quarter earnings beat expectations. S&P 500 earnings growth is now 16.9% year-over-year, well above the 8.8% forecast in early October.

The indexes pared losses mid-session but then retreated. Some traders said the recent sell-off had gone too far. Analysts at Jefferies said the market could be poised for a recovery, saying that while large-cap stocks fell sharply, other sectors were "more positive." Concerns about high valuations and waning expectations for a December rate cut have led investors to pull out of US stocks. The S&P 500 has fallen about 4% since its October peak.

Source: https://baotintuc.vn/thi-truong-tien-te/chung-khoan-my-giam-diem-sp-500-chung-kien-chuoi-bon-phien-di-xuong-lien-tiep-20251119072536966.htm