• The Dow Jones Industrial Average .DJI fell 45.74 points, or 0.22 percent, to 20,550.98, the S&P 500 .SPX lost 2.39 points, or 0.10 percent, to 2,341.59 and the Nasdaq Composite .IXIC added 11.64 points, or 0.2 percent, to 5,840.37.
The S&P 500 cut earlier losses on Monday to end slightly lower, while the Dow declined for an eighth straight session, as investors assessed how the defeat of President Donald Trump's first major legislative action would impact the rest of his agenda.
With stocks soaring to record highs after Trump's election, investors are concerned about the fate of his economic plan, including tax reform and infrastructure spending. Congressional Republicans pulled their healthcare overhaul bill on Friday after failing to gather enough votes.
But some analysts and investors are hopeful the healthcare bill's failure will pave the way for quicker action on legislation deemed desirable by investors, namely tax reform.
• “Tax legislation done right and done quickly is a big stimulant to earnings and the market," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.
• Asia markets gained on Tuesday morning as investors shrugged off the disappointment from the current U.S. administration's ability to push through legislation to repeal and replace the Obama-era health-care law.
Japan's Nikkei 225 rose 0.89 percent in early trade, recovering most of its losses of 276 points, or 1.44 percent, seen yesterday.
Reference: Reuters, CNBC
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