Stock Market Today: Live Updates

The stock ended trading lower on Tuesday, marking the second straight day of declines.

The Dow and S&P 500 each fell about 1%, and the tech-heavy Nasdaq Composite fell nearly 1.7%.

— Alex Harring

Despite Tuesday's tech-led sell-off, 45 stocks in the S&P 500 set new 52-week highs.

Some of the names that reached the milestone are listed below.

Six stocks also hit new 52-week lows. These include:

— Lisa Kailai Han, Christopher Hayes

Gordon Haskett analyst Chuck Grom said Costco is past the deadline to raise membership fees, but the timing seems right. Typically, this fee has been raised every 66 months, but high inflation and economic uncertainty have forced the company into a holding pattern.

“To be sure, it has been 84 months since the last price increase. However, overall inflation has eased (including deflation in some general commodity categories) and is approaching historic levels. “We believe that the likelihood of fee increases increases with each passing month,” Grom wrote in a research note.

He said the increase would contribute to profit growth, although it could be offset by temporary discounts retailers offer to remind members of the value they offer.

Costco stock has risen nearly 16% since the beginning of the year, is trading near a 52-week high, and is close to Grom's $775 price target.

—Christina Cheddar Burke

Tesla shares were down nearly 5% by early afternoon in Tuesday trading, weighed down by troubles brewing overseas.

The electric car maker's losses were compounded by falling sales in China.

“According to the China Passenger Car Association, Tesla sold about 64,000 Chinese-made cars in February, down 19% year-on-year from about 74,000 units in the same period last year,'' Deutsche Bank analysts said. Emanuel Rosner said in a memo Tuesday.

However, analysts cautioned that these weak headline numbers are not unique to Tesla.

The company also faced closure of its Berlin factory due to arson allegations. Tesla's Berlin factory manager said production is not expected to resume this week, Reuters reported.

Energy stocks in the S&P 500 were able to avoid a market decline on Tuesday.

The sector rose more than 1% in afternoon trading. In contrast, the index as a whole fell by about 1%.

APA, Baker Hughes, EQT and Devon Energy led the sector, each up about 2%. All stocks in this sector traded in the green.

Of the index's 11 sectors, only consumer staples, financials and utilities rose.

— Alex Harring

All three major indexes were down at least 1% in afternoon trading.

As of 2 p.m. ET, both the Dow and the S&P 500 were down more than 1%. On the other hand, the Nasdaq Composite Index, which has a high proportion of high-tech stocks, fell 1.8%.

— Alex Harring

Amer Sports, which makes Wilson tennis rackets and Luciville Slugger baseball bats, fell nearly 7% after reporting its first earnings since going public.

The company, which went public through an initial public offering (IPO) last month, announced a loss of 25 cents per share on sales of $1.32 billion. CNBC did not compare the results to Wall Street estimates, considering it was the first time the company reported on the stock.

— Alex Harring, Gabriel Fonrouge

Communications services and consumer discretionary stocks were among the worst performers in the S&P 500 index, pushing their respective sectors down at least 2.5%.

The worst performing telecommunications stocks were Take-Two Interactive and Netflix, which fell 2.9% and 2.6%, respectively. Metaplatform and Alphabet each fell less than 1%.

Tesla fell 4.6%, weighing on the consumer discretionary sector. Best Buy, Amazon and Bath & Body Works each fell about 2%.

Information technology is another underperforming sector, last down more than 2%. Quorbo, Intel, Salesforce and Synopsys all fell at least 4%. Apple and Microsoft also weighed on the sector, each falling 2.6%. ServiceNow fell nearly 5%.

— Samantha Subin

These are the stocks making the biggest moves during midday trading.

Click here for a complete list of stocks on the move.

— Samantha Subin

Cathie Wood's flagship Ark Innovation ETF (ARKK) fell more than 3% on Tuesday as the technology sector took the brunt of Wall Street's selloff.

SoFi was the fund's worst performing stock as of midday trading, falling more than 13% after the company announced the issuance of $750 million in convertible notes due in 2029. Ark Investments had just added 782,646 shares of SoFi to another fund, the Ark Fintech Innovation ETF (ARKF). ).

ARKK's second-largest holding, Tesla, also led the loss. Tesla shares fell 4.5% on Thursday after production at its Gigafactory in Berlin was halted due to suspected arson.

ARKK Holdings' Ginkgo Bioworks, PagerDuty, Prime Medicine, Twilio, UiPath, and Archer Aviation all fell at least 5%.

— Yun Lee

Investors wondering what's dragging down the Dow need look no further than the technology's name.

The blue-chip average fell 0.7%, a relatively muted decline compared to the other two major averages. Much of that downward pressure had to do with tough trading in tech stocks.

Intel led the decline in the 30-stock index, falling more than 4%. Salesforce fell more than 3%, and Apple and Microsoft each fell more than 2%. Amazon was the fifth worst performer, dropping more than 1.5%.

Indeed, about two-thirds of average stock prices trade in the red. Meanwhile, 3M and Walmart led the smaller group that was able to buck the trend, each gaining more than 1%.

— Alex Harring

Albemarle shares plunged more than 11% on Tuesday after the lithium producer announced it would issue $1.75 billion in stock to raise capital.

Albemarle said in a statement on Monday that it would use the proceeds from the share offering to build and expand its lithium operations in Australia and China.

Lithium is a key component used in electric vehicle batteries. Prices for battery metals, including lithium, have plummeted over the past year.

Lithium carbonate prices in China traded at about 108,500 yuan ($15,076) on Tuesday, down nearly 70% from a year earlier.

— Spencer Kimball

The iShares U.S. Aerospace & Defense ETF (ITA) rose 0.3% during Tuesday trading, setting a new intraday high since its inception in 2006.

AeroVironment led the fund's rise, surging nearly 25% on strong earnings and guidance. V2X also rose significantly, rising more than 10%.

The ETF is up more than 2% since the beginning of the year.

— Samantha Subin, Gina Francola

Bitcoin rose to an all-time high on Tuesday, topping $69,000, breaking its previous all-time high set in 2021. According to Coinmetrics, the cryptocurrency hit a high of around $69,210. It was last up about 1% at $68,307. The move comes amid excitement surrounding Bitcoin ETFs and the upcoming halving event.

The Institute for Supply Management's index released Tuesday showed service industry activity was slightly slower than expected in February, but expected price increases also fell significantly.

The ISM Services Index fell slightly to 52.6, slightly below the Dow Jones forecast of 53 and below January's reading of 53.4. The index measures the percentage of companies reporting expansion, so below 50 indicates contraction.

On the inflation front, the price index decreased significantly, and although it still shows growth, it decreased by 5.4 points to 58.6. Previous research on manufacturing also shows expected price increases to slow slightly.

New export orders, import employment, and inventory sentiment also fell, but new orders and business activity increased. U.S. Treasury yields fell following the announcement.

—Jeff Cox

UBS said investor euphoria is “nowhere near” the levels seen before the bursting of the dot-com bubble in the late 1990s.

Additionally, the company believes there is reason to remain positive about future market performance despite major indexes near all-time highs.

“While economic and market risks are ever-present and the rise in risk assets may slow, we see evidence supporting a positive short- and medium-term outlook,” executives wrote to clients early Tuesday. This was stated in a letter.

— Alex Harring

Tuesday's trading started with the three major indexes lower, putting the market on a downward trend again.

The Dow Jones Industrial Average fell 0.3% at the start. The S&P 500 fell 0.4% and the Nasdaq Composite fell 0.8%.

— Alex Harring

Monday was a slightly down day for the S&P 500, but there are some bright spots when looking at the performance of individual members.

During Monday's trading, about 19.5% of the stocks included in the composite index, or nearly one in five members, hit new 52-week highs. This large group of stocks included major stocks such as Nvidia, Disney, Meta, Costco, JPMorgan, and Eli Lilly.

— Alex Harring