Wall St dips from record levels, additional stimulus uncertain
U.S. stocks edged lower on Tuesday in choppy trading after hitting record highs, as investors worried about the path of economic reopening and whether the Senate would authorize additional pandemic aid checks.
The Dow Jones Industrial Average fell 68.3 points, or 0.22%, to 30,335.67, the S&P 500 lost 8.32 points, or 0.22%, to 3,727.04 and the Nasdaq Composite dropped 49.20 points, or 0.38%, to 12,850.22.
Volumes are expected to be light in the holiday-shortened week, which could lead to boost volatility. The S&P 500 is up 15.4% so far this year, with just two trading days left in 2020.
Wall Street’s three main indexes opened at new highs for a second straight session after Trump signed a $2.3 trillion fiscal bill that restored jobless benefits and averted a federal government shutdown.
Modest gains in early trading brought stocks to an intraday record, but the advance evaporated after U.S. Senate Majority Leader Mitch McConnell blocked immediate consideration of the measure calling for an increase in stimulus payments from $600 to $2,000.
Reference: CNBC, Reuters
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