Dow Jones tanks 254 pts
Walmart loses 10%
TSX also down
DropCar Inc rises
Wall Street shares were a sea of red at the close on Tuesday, with the Dow Jones down triple digits - 254 points lower at 24,964, breaking a six day winning streak.
The S&P 500 was also down - off almost 16 points at 2,716.
The tech heavy Nasdaq shed around five points at 7,234.
In Toronto, the TSX- the biggest index there - shed over seven points at 15,445.
The big casualty of the day was retailer Walmart (NYSE:WMT), which tanked over 10% to US$94.14 after its results.
Noble Energy was the big gainer, up 11.11% to US$29.20 as it reported adjusted quarterly profit on Tuesday that beat analyst estimates due to cost cuts and higher crude prices.
Elsewhere, DropCar Inc (NASDAQ:DCAR) added over 22% to US$3.46 after the company unveiled a new agreement with Jaguar Land Rover Manhattan.
The dealership will use DropCar’s Enterprise Vehicle Assistance and Logistics technology platform to automate the pick-up and delivery of customer vehicles for service and maintenance.
VAL will also allow customers to track their car’s movement as well as its progress of the repair or service.
MID-SESSION
The S&P 500 has slipped into negative territory at mid-session, as Wall Street traders remain cautious.
The broad based index is down 3.34 at 2,728 at the time of writing.
The Dow Jones is off over 152 points at 25,067, and the Nasdaq is up almost 34 at 7,272.
Brent crude is up 0.68% to US$62.10 a barrel.
In Toronto, the TSX is up over 27 points at 15,480.
Earlier, in Europe, FTSE 100 closed down 0.89, or 0.01% to 7,246.
OPEN
Wall Street saw a mixed start after the public holiday break, with the Dow Jones Industrial Index losing over 102 points at 25,115.
The broader based S&P 500 shed over four points at 2,728, but the Nasdaq was in positive territory though- up around 11 points, at 7,250.
In Toronto, which was closed yesterday for Family Day, the index was up almost six points at 15,458.
US crude- West Texas Intermediate- added 0.23% to US$61.82 a barrel.
Bitcoin, the premier crypocurrency, is up over 4% at US$11,529 despite the Bank of England governor Mark Carney dismissing it, saying that it has “pretty much failed” as a currency.
Carney, at a discussion at London's Regent's University, said that Bitcoin couldn’t be considered to be a “store of value” like an actual currency because the volatile price has been “all over the map”.
In stocks, a notable laggard was Wal-Mart Stores (NYSE:WMT), which shed over 9% to US$95.17 as it revealed a sharp slide in online sales in the latest quarter.
E-commerce sales were up 23% in the final quarter of 2017, and soared 44% for the full year to $11.5 billion. But the fourth quarter's performance reflected a steep slide from the previous three month period when online sales jumped 50%.