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How major US stock indexes fared Tuesday, 1/16/2024

Wall Street closed lower in a lackluster return to trading following a three-day holiday weekend.

The S&P 500 fell 0.4% Tuesday, though it remains within a good day of its all-time high set two years ago. The Dow lost 0.6%, and the Nasdaq composite slipped 0.2%.

Morgan Stanley sank after a legal matter and a special assessment knocked more than half a billion dollars off its pretax earnings, while Spirit Airlines nearly halved after a federal judge blocked its takeover by JetBlue. Treasury yields rose in the bond market to increase the pressure on the stock market.

On Tuesday:

The S&P 500 fell 17.85 points, or 0.4%, to 4,765.98.

The Dow Jones Industrial Average fell 231.86 points, or 0.6%, to 37,361.12.

The Nasdaq composite fell 28.41 points, or 0.2%, to 14,944.35.

The Russell 2000 index of smaller companies fell 23.66 points, or 1.2%, to 1,927.30.

For the year:

The S&P 500 is down 3.85 points, or 0.1%.

The Dow is down 328.42 points, or 0.9%.

The Nasdaq is down 67 points, or 0.4%.

The Russell 2000 is down 99.77 points, or 4.9%.