The shares closed at $85.29 on Thursday as the S&P 500 fell 0.38% to 7,337.11 and the Dow dropped 0.63% to 49,596.97.
The decline ended a five-day winning streak and left the stock 29.88% below its 52-week high of $121.64 reached on 3 February.
Against peers, Johnson & Johnson fell 0.94%, Procter & Gamble lost 1.24%, and Coty dropped 5.66%, leaving Estee Lauder weaker than some rivals but stronger than Coty.
With consumers sacrificing groceries for beauty, is Estee Lauder's premium focus missing the explosive growth of 'masstige' brands?
After slashing 10,000 jobs, is Estee Lauder's 'reimagined' strategy a path to innovation or a prelude to a mega-merger?
As Estee Lauder moves from department stores to TikTok, can it keep the luxury feel that justifies its high price tags?