US Stock Market Update: Dow plunges over 650 pts, S&P retreats from record high; Walmart slumps 6%

US Stock Market Today, Dow Jones, S&P 500, Nasdaq: Wall Street benchmarks took losses on Thursday amid persistent caution among investors fuelled by US President Donald Trump’s policy moves, especially on the trade tariffs front. Since taking office as 47th President of the United States about a month ago, Trump has imposed an additional 10 per cent tariff on imports from China and announced 25 per cent tariffs on goods from Mexico and non-energy imports from Canada.

Selling pressure in financial, consumer discretionary, consumer staple and industrial stocks weighed on main US stock market benchmarks Dow and S&P 500, though buying interest in energy and real estate shares lent some support.

US Stock Market on February 20 | Here is how Dow Jones, S&P 500 & Nasdaq fared

The Dow Jones Industrial Average (DJIA) fell as much as 677.4 points, or 1.5 per cent, to 43,950.2, while the S&P 500 dropped 59.6 points, or 1.0 per cent, to 6,084.6 and the technology stocks-heavy Nasdaq Composite tumbled to as low as 19,795, down 261.2 points, or 1.3 per cent, from its previous close.

The S&P 500 retreated from a closing high registered the previous day.

Walmart shares plummeted after the retailing giant’s top- and bottom-line forecasts fell short of market estimates.

At 2:04 pm Eastern Time Thursday (12:34 am Indian Time Friday), the Dow was down 593.6 points, or 1.3 per cent, at 44,034, the S&P 500 was down 42.9 points, or 0.7 per cent, at 6,101.3, and the Nasdaq was at 19,914.1, down 142.1 points, or 0.7 per cent, from its previous close.

Top Dow Gainers vs Losers Today

As many as 20 Dow stocks traded in the green at the last count in afternoon deals.

Now, let’s take a look at the US technology pack. 

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Top Nasdaq Gainers vs Losers

Also in the American big tech basket, Facebook (Meta) shares were down 1.1 per cent at $696.3 apiece, the Amazon stock was down 1.8 per cent at $222.5 while Apple was up 0.2 per cent at $245.4.

ALSO READ: Trump’s Tariff Shock | Market guru Anil Singhvi explains potential impact on India’s pharma & auto sectors 

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With inputs from agencies