US Stocks End Lower as Dow Slides Over 500 Points

2026-05-04 20:17 By Joana Taborda 1 min. read

US stocks closed lower on Monday, with the S&P 500 slipping 0.4% and the Nasdaq falling 0.2%, pulling back from record highs reached in the previous session.

The Dow Jones dropped 557 points.

The decline was driven by a renewed surge in oil prices as tensions in the Middle East escalated, heightening concerns about inflation.

The US and Iran exchanged fire and the United Arab Emirates was also involved.

The escalation followed a plan announced by President Trump to support vessels navigating the Strait of Hormuz, prompting Tehran to warn it would target US forces approaching it.

Materials and industrials were the worst-performing sectors, while energy stocks ended higher.

Among major companies, Apple (-1.2%), Alphabet (-0.9%), Broadcom (-1.1%), Walmart (-1%), and JPMorgan (-1.6%) all posted notable declines.

Meanwhile, Palantir Technologies rose 1.4% by the close and added about 0.4% in premarket trading afterward after posting a record Q1 revenue and profit.



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