A listless day on Wall Street left stocks mostly lower Tuesday even as more gains by technology companies pushed the Nasdaq to an all-time high.
The mixed showing for stocks came as Congress finally approved a $900-billion rescue to carry the economy through what was likely expected to be a bleak winter. A couple of discouraging reports on the economy also may have weighed on the market. Trading was relatively thin ahead of the Christmas holiday later in the week.The S&P 500 fell 7.66 points to 3,687.26. The Dow Jones industrial average slid 200.94 points, or 0.7%, to 30,015.51. The Nasdaq composite rose 65.40 points, or 0.
A new strain of the coronavirus has emerged, one that has caught hold in at least London and southern England. There’s no evidence that it’s more deadly, but it seems to spread more easily. Worries about it are serious enough that countries around the world have restricted flights from London, raising concerns that more economy-punishing lockdowns may be on the way.
Such worries have caused momentum to slow for the stock market, which set record highs last week after earlier surging on hopes that COVID-19 vaccines will trigger a return to normality for the economy next year, and that Washington would approve a big stimulus to tide the economy over until then.Healthy gains for some of the S&P 500’s most influential stocks helped limit the index’s losses Tuesday. Apple rose 2.8%, for example.
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