04:29 PM EDT, 05/06/2025 (MT Newswires) -- US benchmark equity indexes closed lower on Tuesday after official data showed the US trade deficit widened more than estimates in March.

The Nasdaq decreased 0.9% to 17,689.66, the S&P 500 dropped 0.8% to 5,606.91, and the Dow Jones Industrial Average declined 1% to 40,829. Health care led the declines, and only utilities and energy posted gains.

US Treasury yields were down, with the 10-year rate decreasing 3.6 basis points to 4.3% and the two-year rate dropping 4.2 basis points to 3.8%.

June West Texas Intermediate crude oil increased 3.5% to $59.12 a barrel.

In economic news, the US goods and services trade deficit widened 14% to $140.5 billion in March, the Census Bureau and the Bureau of Economic Analysis reported. The consensus in a survey compiled by Bloomberg was for a deficit of $137.2 billion.

The deficit reading represents a record level as companies "rushed" to import goods ahead of the Trump administration's planned tariffs, Stifel said in a note to clients.

The European Union intends to hit nearly 100 billion euros ($113.63 billion) in US goods with additional tariffs if ongoing trade negotiations fails, Bloomberg News reported, citing sources.

In company news, Palantir ( PLTR ) shares fell 12%, the biggest drop on the S&P, even after the software maker issued an upbeat Q2 sales outlook and raised its full-year guidance

Constellation Energy ( CEG ) shares jumped 10%, the largest gain on the S&P, after the company logged better-than-expected Q1 operating revenue and affirmed its full-year adjusted operating earnings outlook.

Peabody Energy ( BTU ) shares rose 9.5%. The company confirmed that it's exploring a partial sale of its Centurion coal mine in Australia.

Leidos Holdings ( LDOS ) shares gained 4.6%, the second-biggest increase on the S&P. The company reported Q1 adjusted earnings and revenue that topped Wall Street estimates and reaffirmed its full-year outlook.

Gold increased 3.1% to $3,424 per troy ounce, while silver was down 2.9% to $33.42 per troy ounce.