New York equities markets were down substantially on Tuesday, as the Dow Jones Industrial Average dropped 1.14 percent to 10,513.45, the Nasdaq composite fell by 1.38 percent to 2,137.06, and the S&P 500 lost 1.18 percent to 1,219.34.

Shares in Wal-Mart were down by more than 3.3 percent at mid-afternoon to $47.50 on the news that while second quarter earnings had risen by 6 percent , the third-quarter outlook was not as good. The world’s largest retailer blamed this assessment on rising oil prices.

Elsewhere in the retail sector, Home Depot and Staples both reported much higher sales in the second quarter. Home Depot said it experienced a 20 percent rise in sales and a same-store sales increase of 4 percent. Office goods retailer Staples also said their sales were up 20 percent in the quarter, 1 percent better than analysts thought they would do. Still, shares in both companies were down. Home Depot lost 1.4 percent to $41.04, while Staples declined by 2.1 percent to $21.85.

In the airline sector, the Amex airline index gained 3.4 percent, its first increase after 11 straight declining sessions. Delta Air Lines gained 9.4 percent to $1.52, Northwest Airlines added 10.6 percent to $4.61, and SkyWest was up 11 percent to $24.46.