How major US stock indexes fared Tuesday, 4/2/2024

Stocks had their worst day in four weeks, as Wall Street hits the brakes on what’s been a nearly unstoppable romp. The S&P 500 fell 0.7% Tuesday. The Dow Jones Industrial Average lost 1%, and the Nasdaq composite gave back 1%. Worries are rising that the Federal Reserve may cut interest rates fewer times than expected this year. Concerns have also grown that the U.S. stock market had become too expensive after leaping since late October. Health insurers helped lead the market lower after the U.S. government announced lower-than-expected rates for Medicare Advantage. Tesla tumbled after reporting its first-quarter deliveries.