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The Wall Street indexes were down on Tuesday as negotiations to raise the US debt ceiling continued, putting investors on edge about the possibility of a historically large government default.
According to S&P Global statistics, the US economy experienced significant growth in the services sector in May, driving business activity to a 13-month high. Broadcom Inc. gained 2.5%, Apple’s stock dropped 0.9%, and Zoom Video Communications saw a 7.6% decline.
The Nasdaq Composite was down 41.50 points, or 0.33%, at 12,679.28, the S&P 500 was down 13.15 points, or 0.31%, and the Dow Jones Industrial Average was up 3.48 points, or 0.01%, at 33,290.06.
The annual comparable sales prediction for Lowe’s Companies Inc was lowered, and BJ’s Wholesale Club Holdings Inc saw a 6.9% decline. Shares of local lenders continued to soar from the previous session, PacWest Bancorp’s 14.5% gain serving as a catalyst.
