US Stock Market: Three Major Indexes Close Lower on Tuesday

US Stock Market: Three Major Indexes Close Lower on Tuesday

The three major indexes of the US stock market closed lower on Tuesday, extending their losses from the previous session. The S&P 500 fell 0.77%, the Nasdaq Composite lost 1.05%, and the Dow Jones Industrial Average declined 0.60%. The decline was broad-based, with all but four sectors of the S&P 500 closing in the red. Energy and utilities were the biggest decliners, while financials and real estate were among the few bright spots. The losses came as investors continued to worry about the Federal Reserve's aggressive interest rate hikes. The Fed has raised interest rates four times this year in an effort to curb soaring inflation, and investors are concerned that the hikes will slow economic growth and hurt corporate profits. The market also took a hit from disappointing earnings reports from several major companies. Walmart, the world's largest retailer, reported weaker-than-expected earnings and warned that inflation was eating into its profits. Home Depot, the largest home improvement retailer in the US, also reported a decline in earnings. The losses in the US stock market were in line with declines in other global markets. The FTSE 100 index in London fell 0.7%, the DAX index in Frankfurt lost 1.2%, and the CAC 40 index in Paris declined 1.3%. ```