Stocks End Down as Tech Shares Turn Lower

Stocks finish lower Tuesday and tech stocks fall as investors weigh prospects for the reopening of the U.S. economy.
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Stocks finished lower Tuesday and tech stocks fell as investors placed bets on the reopening of the U.S. economy.

Wall Street also weighed earnings reports from Walmart  (WMT) - Get Report and Home Depot  (HD) - Get Report.

The Dow Jones Industrial Average finished down 267 points, or 0.78%, to 34,060, the S&P 500 fell 0.85% and the Nasdaq declined 0.56%.

The Dow lost 200 points in the last 20 minutes of regular trading. 

Among the tech majors, Apple  (AAPL) - Get Report, Microsoft  (MSFT) - Get Report and Alphabet  (GOOGL) - Get Report declined.

Walmart  (WMT) - Get Report posted stronger-than-expected first-quarter earnings and boosted its full-year profit forecast after same-store sales at the world's largest retailer blasted past forecasts. 

Same-store sales at Walmart rose 6%, while e-commerce sales jumped 37%.

The stock finished up 2.2% on Tuesday.

Home Depot  (HD) - Get Report reported better-than-expected earnings and sales in the first quarter amid what the nation's No. 1 home-improvement retailer said was "unprecedented demand" for domestic projects.

Same-store sales at Home Depot rose 31.1% in the quarter, while U.S. comparable-store sales jumped 29.9%.

The stock, however, declined 1% on Tuesday.

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Stocks ended modestly lower Monday as Wall Street came off a rough week driven by concerns over what effect rising inflation would have on the U.S. recovery.

Stocks have been volatile as investors weighed a recovery of the economy against rising inflation pressures.

Wall Street has grown increasingly worried that the Federal Reserve will pull back on its support for the economy if it runs too hot and inflation persists.

The Federal Reserve has held steadfast in its belief that a jump in inflation will be only temporary. Investors will be monitoring the release Wednesday of the minutes from the Fed's last meeting for any discussions about accelerating price pressures.

Bitcoin extended declines Tuesday after the People's Bank of China published a warning over the use of virtual currencies in the world's second-largest economy. 

Oil prices in the U.S. settled down 1% to $65.58 a barrel after a BBC report said progress was being made in nuclear talks between the U.S. and Iran.