S&P 500 Slumps as Declines in Dell, Tesla Offset Gains Elsewhere
Delta planes on the tarmac at LaGuardia Airport in the Queens borough of New York.
Photographer: Angus Mordant/BloombergUS stocks closed lower for just the second time in the last 10 sessions on Thursday, retreating from all-time highs as a decline in technology shares offset upbeat earnings reports from Delta Air Lines and PepsiCo Inc.
The S&P 500 Index fell 0.3%, after notching its 33rd record of 2025 a day earlier. The Nasdaq 100 Index fell nearly 0.2%. Dell Technologies was one of the market’s biggest decliners — sliding 5.2% — but shares are still rallying 11% this week on artificial-intelligence growth prospects. Tesla Inc. fell 0.7% as US auto safety regulators launched a safety probe into incidents related to its partial-automation software.