Dow drops more than 300 points to snap 3-day winning streak, Home Depot and Walmart fall; European markets close lower as investors monitor coronavirus vaccine progress, economic data; BELEX15 flat; Another budget rebalance possible
Stocks fell for the first time in four days on Tuesday, giving back some of the strong gains from the previous session, amid sharp losses from retail and bank shares. The Dow Jones Industrial Average dropped 390.51 points, or 1.6%, to close at 24,206.86. The S&P 500 slid 1.1% to 2,922.91 while the Nasdaq Composite lost 0.5% and closed at 9,185.10.
Home Depot shares lost 3% to lead the Dow lower after the home improvement retailer said net income last quarter dropped 10.7% due to extra costs related to the pandemic. Although the retailer also said sales increased by 7% for the period. Walmart shares were down 2.1%, giving up earlier gains, despite soaring e-commerce sales in the first quarter.

European stocks finished in the red on Tuesday, halting the positive trend set at the start of the week, as investors monitored hopes for a coronavirus vaccine and outlooks for economic recovery. The pan-European Stoxx 600 reversed earlier gains to slide 0.5%. Autos tumbled 1% to lead losses while insurance stocks bucked the negative trend to edge 0.3% higher.
On the data front, new EU car registrations fell 76.3% in April, from the same month a year ago, according to data published Tuesday from the European Automobile Manufacturers Association (ACEA).

Serbian BELEX15 was almost with no change - up only 0.08%. The most traded name was Komercijana Banka again, with RSD 8.5m in volume. Top gainer was Energoprojekt as it added 9.6%, while only 25 shares were traded. Bonds were also very active with around EUR 5m in volume.
Serbian Prime Minister, Ana Brnabic, announced the possibility of a budget rebalance, depending on the revenues. As the situation is favorable at the moment, as she says, this will not happen immediately.
Source: CNBC, Ilirika