The Dow Jones Industrial Average (^DJI) was down 498.50 (-1.07%) points today, closing at 46091.74, as a broad market sell-off took hold on Tuesday, November 18, 2025. The decline marked the fourth consecutive session of losses for the index. This downturn was largely driven by increasing investor skepticism regarding artificial intelligence (AI) stock valuations and growing anxieties over consumer spending strength.
The main narrative driving the market's decline centered on a risk-off posture as investors began to hedge against the fervent hype surrounding AI. Concerns about sky-high valuations for tech companies, particularly ahead of Nvidia's (NVDA) anticipated quarterly earnings report later this week, prompted a significant pullback in the sector. Adding to the market's woes, The Home Depot (HD) delivered disappointing third-quarter profit and a lowered full-year forecast, signaling a "deferral mindset" among consumers and highlighting broader household spending anxiety. This specific company event underscored fears about the underlying economic health and its impact on retail.
As a result of these pressures, several major companies within the Dow experienced notable declines. The Home Depot (HD) was the biggest loser, plummeting -4.27% to close at 342.55. Other significant decliners included Amazon (AMZN), down -3.76% to 224.0250, and Microsoft (MSFT), which fell -2.90% to 492.75. Conversely, a few stocks managed to buck the trend. Merck & Co. (MRK) emerged as the top gainer, rising +4.14% to 96.7300. Other strong performers included The Travelers Companies (TRV), up +1.52% to 288.9600, and Goldman Sachs (GS), which gained +1.31% to 785.6300.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.