Wall Street closes lower after Home Depot outlook, US retail sales

Disappointing forecasts from Home Depot and soft April US retail sales data led to US stock indexes closing lower on Tuesday, with sentiment hit by uncertainty around interest rates and debt limit negotiations. Home Depot was one of the biggest drags on the Dow Industrials and S&P 500 after it cut its annual sales forecast and projected a deeper-than-expected decline in profit. Recent data indicates slowing in the US economy after a string of rate hikes by the Federal Reserve to fight high inflation.