The s&p 500 index fell on Tuesday, ending the four-day rise of the us stock market after the presidential election. The Dow Jones Industrial Average, after hitting a new 52-week high, dropped as much as 405 points and ultimately closed near the day's low, finishing at 43,910 points, down 382 points or 0.9%. The s&p 500 index fell 17 points or 0.3%, closing at 5,983 points; the Nasdaq lost 17 points or 0.1%, closing at 19,281 points.
Stocks related to 'Trump trade' saw significant declines on Tuesday. Since the US election, Tesla (TSLA.US) has fluctuated due to Elon Musk's support for Trump's presidency. The stock recently surged over 31% but dropped by 6.2% on Tuesday. Trump Media (DJT.US) fell by almost 9%. Small-cap stocks potentially benefiting from Trump are generally under pressure.E-mini Russell 2000 indexDropping by nearly 2%.
The e-commerce platform operator Shopify (SHOP.US) reached a new 52-week high, with third-quarter revenue exceeding expectations, leading to a surge in stock price of 21%.
Citigroup stated that there is an increased risk for the S&P 500 index and the Russell 2000 index. The S&P 500 index is currently at its highest level in the past three years, and the risk level for the Nasdaq and Russell 2000 has also expanded, which may lead to short-term profit-taking and further limit the upward trend.