Market data is displayed on monitors as a trader works on the NYSE trading floor in New York City, April 4, 2024. Andrew Kelly/Reuters/File Photo Buy Licensing Rights.
The S&P 500's two-day decline is 2.64%, its greatest since early March 2023. The index closed below its technical support 50-day moving average for the first time since Nov. 2.
As it debated how to respond to Iran's weekend missile and drone attack, launched after a suspected Israeli attack on its embassy, allies urged Israel to show caution and prevent escalation.
Each of the 11 major S&P sectors fell, with rate-sensitive real estate (.SPLRCR) and utilities (.SPLRCU) performing worst.
Stocks have suffered recently, with the S&P 500 falling for two straight weeks and its largest weekly percentage drop since October last week as investors delay Federal Reserve rate cuts.
After Reuters obtained an internal letter showing that Tesla (TSLA.O) will lay off more than 10% of its global workers, the stock fell 5.6%.
Salesforce (CRM.N),fell 7.28% after Reuters reported, citing a source, that it was in advanced talks to acquire Informatica (INFA.N). Declining issues outnumbered advancing ones by 5.1-to-1 on the NYSE and 3.5-to-1 on the Nasdaq.
The NYSE had 39 new highs and 138 new lows, while the Nasdaq had 37 and 333. The average full-session volume on U.S. exchanges for the last 20 trading days was 11.03 billion shares.
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