U.S. Stocks Decline as Market Jitters Over Trade Return
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TrueStage companies simplify the complex with 90 years of delivering accessible insurance and innovative financial solutions. Let's work together and build a better tomorrow today. Learn more at truestage.com slash WSJ. TrueStage is the marketing name for TrueStage Financial Group, and gets subsidiaries and affiliates. Corporate headquarters is located in Madison, Wisconsin. Here's your closing bell brief for Tuesday, May 6th. I'm Danny Lewis for The Wall Street Journal. U.S. stocks declined as market jitters over trade returned.

The Dow Jones Industrial Average fell 390 points to close at 40,829. The S&P 500 gave up 43 points, and the Nasdaq lost 155 points. Stocks opened lower and remained down after a White House meeting between President Trump and Canadian Prime Minister Mark Carney, with investors still nervous about U.S. tariffs and a lack of announced trade deals.

Meanwhile, new data showed the trade deficit hit a record $140.5 billion in March as Trump's bid to reshape world trade prompted a preemptive surge in imports, a 14% increase from the month before. In individual stocks, Clorox posted lower revenue in its latest quarter as customers pulled back on shopping. Shares fell 2.4% after the company updated its guidance for the year to include the effects of tariffs.

Shares of DoorDash fell 7.4% after its latest earnings report. While it swung to a first-quarter profit and struck deals to buy British food delivery company Deliveroo and software firm Seven Rooms, it missed Wall Street expectations.

Data analysis firm Palantir raised its full-year outlook after logging higher first-quarter profit and revenue thanks to demand for its artificial intelligence products. But shares closed down 12 percent, with some analysts questioning the rapid growth of the company's $290 billion market cap.

And telehealth platform HIMSS and HERS said its first quarter revenue more than doubled as it added 38% more subscribers. Even though its second quarter outlook missed expectations, shares jumped 18%. We'll have a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.

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