The Dow Jones Industrial Average decreased by 375 points, or 0.8%, on Tuesday. The S&P 500 declined by 0.4%, and the Nasdaq Composite was down 0.5%. The Dow's decline was more significant than the S&P 500's due to its stock-price weighted methodology, which assigns more influence to stocks with higher per-share prices rather than larger market capitalization.
Several high-priced stocks contributed significantly to the Dow's decline on Tuesday. Visa's 4.9% drop accounted for 106 points. Salesforce, which fell 4.5%, contributed to a 70-point reduction. JPMorgan Chase decreased by 2.7% following its earnings report, removing 53 points from the index. Microsoft's 2.1% drop reduced the Dow by 61 points. Goldman Sachs Group, despite a 0.9% decline, impacted the Dow by 51 points due to its stock price exceeding $940.
Among the Dow stocks that experienced declines of 1% or more, all had stock prices above $200, with five of them exceeding $300. Despite Tuesday's performance, the Dow is up 2.7% year-to-date, compared to the S&P 500's 1.7% increase and the Nasdaq Composite's 1.8% rise for the year.