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NASDAQ AND S&P 500 SELL OFF FOR FOURTH DAY, DOW GAINS

Nasdaq composite .IXIC closed 1.4% lower while S&P 500 .SPX lost 1.4%, with both marking their fourth straight day of declines and their longest string of loses since the last three sessions of 2024 and the first session of 2025.

The S&P hit its lowest level since Jan. 15, while Nasdaq touched its lowest level since Jan 13. It was Nasdaq's third day in a row losing 1%.

The market's risk-off mood was likely not helped by signs of deterioration in the moods of consumers, who represent about 70% of U.S. GDP. Consumer sentiment dimmed considerably in February, according to The Conference Board's consumer confidence index, which registered its steepest monthly drop since August 2021.

Still the Dow Industrial average .DJI went in the opposite direction of its peers, with a 0.4% gain for the day. It was supported by a 4.3% increase in Walmart WMT.N shares, which helped erase some losses after a weak quarterly update last week.

It was also helped by a 2.8% rally in shares of Home Depot HD.N despite some mixed news at the home improvement retailer, which forecast a surprise drop in 2025 profit with a weak housing market and high interest rates suggesting U.S. consumers wary of making big expenditures.

Still Home Depot managed to post a 0.8% increase in comparable-store sales vs analyst estimates for a 1.87% drop - data compiled by LSEG.

The biggest drags on the market were megacap stocks led by Nvidia NVDA.O, down 2.8%, and then Tesla TSLA.O, whose shares tumbled 8% as data showed the electric car maker's sales slumped in Europe in January. Tesla's market value droped below $1 trillion for the first time since November. Microsoft Corp MSFT.O, down 1.5%, was the next biggest drag.

Here is your closing snapshot:

(Sinéad Carew)

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