U.S. equity markets experienced a decline over May 5 and May 6, 2025, with major indices posting losses. On May 5, the S&P 500 ETF (SPY) closed down 0.56%, the Nasdaq 100 ETF (QQQ) fell 0.59%, the Dow Jones Industrial Average ETF (DJI) decreased 0.24%, and the Russell 2000 ETF (IWM) dropped 0.74%. The following day, May 6, saw a sharper downturn with futures indicating a decline of around 1% across major indexes. The S&P 500 ETF opened down 1.01% and closed down 0.83%, QQQ opened down 1.33% and closed down 0.93%, DJI opened down 0.75% and closed down 0.95%, while IWM opened down 1.10% and closed down 1.09%. The S&P 500 index closed down 0.77%, Nasdaq 100 down 0.88%, Dow Jones Industrial Average down 0.95%, and the Russell 2000 fell 1.05%. Sector performance showed health care as the worst-performing sector with a 2.76% decline, followed by consumer discretionary and industrials. Energy and utilities were the only sectors to close higher, gaining 0.10% and 1.23% respectively.