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Indexes down: Dow 0.19%, S&P 500 0.34%, Nasdaq 0.45%

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Home Depot ( HD ) rises after Q1 sales beat

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S&P 500 set to snap six-day win streak if losses hold

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Tesla up after Musk says committed to being CEO

(Updates after markets open)

By Shashwat Chauhan and Kanchana Chakravarty

May 20 (Reuters) - Wall Street's main indexes fell on

Tuesday, with technology stocks leading declines as investors

awaited commentary from Federal Reserve officials to gauge the

impact of U.S. President Donald Trump's tariffs on the central

bank's policy path.

At least seven Fed officials including St. Louis Fed

President Alberto Musalem are scheduled to speak through the

day.

Traders currently expect at least two 25-basis-point rate

cuts from the U.S. Federal Reserve by the end of 2025, with the

first one expected in September, according to data compiled by

LSEG.

Fed officials on Monday flagged the ramifications of the

latest downgrade of the U.S. government's sovereign credit

rating and uneasy market conditions.

"The Fed is trying to not have (tariffs) influence what they

do and they've said so," said Thomas Martin, senior portfolio

manager at Globalt Investments.

"They certainly don't want to raise (interest rates), and so

standing pat is a pretty good thing to do."

At 09:41 a.m. ET, the Dow Jones Industrial Average

fell 80.50 points, or 0.19%, to 42,711.57, the S&P 500

lost 20.34 points, or 0.34%, to 5,943.26, and the Nasdaq

Composite lost 86.45 points, or 0.45%, to 19,129.01.

Eight of the 11 S&P sub-sectors traded lower, with

information technology, which was down 0.7%, being the

worst hit.

Most megacap and growth stocks fell, though Tesla

was an outlier with a 3.4% rise after Elon Musk said at an

economic forum in Qatar that he was still committed to being the

company's CEO in five years' time.

Retailer Home Depot ( HD ) gained 1.1% after beating Wall

Street estimates for first-quarter sales.

Amer Sports ( AS ) jumped 18.4% after raising its 2025

revenue forecast.

If current losses hold, the S&P 500 is set to snap a six-day

winning streak and the Nasdaq is on pace for its first loss in

three sessions.

The S&P 500 ended flat on Monday as investors assessed

the implications of Moody's downgrading the U.S. sovereign

credit rating to "Aa1" from a pristine "Aaa", citing the

government's $36-trillion outstanding debt and interest.

Concerns around mounting U.S. debt remained in focus, with a

vote on Trump's sweeping tax-cut bill in the House of

Representatives expected this week.

"We have a tremendously unified party,"

Trump

told reporters as he arrived at Capitol Hill on Tuesday to

encourage Republican lawmakers to resolve their differences over

the bill that encompasses much of his domestic agenda.

U.S. stocks have had a solid month so far, with the S&P 500

now more than 17% higher than its April lows, when global

markets were jolted by Trump's reciprocal tariffs.

A pause in the tariffs, a temporary trade truce between the

U.S. and China and tame inflation data pushed equities higher,

although the S&P 500 is still about 3% from its record highs.

Preliminary readings of the May Purchasing Managers Index

are due later in the week.

AI-darling Nvidia ( NVDA ) is scheduled to report quarterly

earnings on May 28.

Declining issues outnumbered advancers by a 1.84-to-1 ratio

on the NYSE and by a 1.71-to-1 ratio on the Nasdaq.

The S&P 500 posted eight new 52-week highs and no new

lows, while the Nasdaq Composite recorded 23 new highs and 11

new lows.