S&P 500 Slides as Solar Stocks Tumble on Trump Policy; Walmart Earnings Disappoint

The S&P 500 fell 0.4% on Thursday, marking its fifth consecutive decline as investors braced for Federal Reserve Chair Jerome Powell's upcoming remarks. Solar stocks led losses after former President TRUMP announced a halt to new solar and wind project approvals, citing high electricity costs in renewable-dependent states. First Solar shares plummeted 7%, with Sunrun, Enphase Energy, and SolarEdge also dropping sharply.

Walmart shares slid nearly 5% after reporting weaker-than-expected quarterly profits, despite raising its full-year outlook. The retail giant's operating income fell over 8% even as revenue grew 5% year-over-year. In contrast, Hewlett Packard Enterprise gained ground following a Morgan Stanley upgrade tied to AI demand optimism.

Market sentiment remains cautious ahead of Powell's speech, with the Dow and Nasdaq both declining 0.3%. The solar sector's downturn highlights how policy shifts can rapidly alter market trajectories, while Walmart's mixed results underscore the challenges of maintaining margins amid growth.