Dow ends nearly 250 points lower, stock-market rally pauses ahead of Fed testimony

U.S. stocks closed lower on Tuesday, the first day of trading after the long federal Juneteenth holiday. The Dow Jones Industrial Average DJIA, -0.72% fell about 245 points, or 0.7%, ending near 34,053, while the S&P 500 index SPX, -0.47% closed about 0.5% lower and the Nasdaq Composite Index COMP, -0.16% shed 0.2%, according to preliminary FactSet figures.

Stocks were lower to start the week, after the S&P 500 on Friday booked a fifth straight week of gains and stocks recently touched their highest level in more than a year.

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