The S&P 500 dropped for a second consecutive day as investors processed corporate earnings and awaited updates on tariffs and the Federal Reserve’s interest rate decision. The index fell 0.8%, while the Dow Jones Industrial Average and Nasdaq declined by 1% and 0.9%, respectively. Palantir Technologies (PLTR) plummeted 12% after its earnings failed to impress analysts despite a 39% revenue increase and an improved outlook. Vertex Pharmaceuticals (VRTX) dropped 10% following a pause in a cystic fibrosis trial with Moderna (MRNA), which contributed to weaker-than-expected quarterly results. Pharmaceutical stocks were further pressured by the appointment of Dr. Vinay Prasad as the FDA’s top vaccine regulator, leading to declines in Regeneron (REGN), Eli Lilly (LLY), Bristol-Myers Squibb (BMY), and Moderna. Meanwhile, Constellation Energy (CEG) surged 10% after beating revenue forecasts, and Leidos Holdings (LDOS) rose 4.6% on strong results. Conversely, DoorDash (DASH) fell over 7% after reporting lackluster revenue and announcing acquisitions. — new from Investopedia
