NEW YORK — U.S. stocks are falling again as their big rally following last week’s presidential election and cut to interest rates continues to fade. The S&P 500 fell 0.7% Friday. The Dow Jones Industrial Average dropped 141 points, and the Nasdaq composite sank 1.2%. Pfizer and other makers of vaccines were helping pull the market lower after President-elect Donald Trump said he wants Robert F. Kennedy Jr., a prominent anti-vaccine activist, to be his Secretary of Health and Human Services.
Lower interest rates can act as fuel for the stock market, and the broad expectation that the Fed was ready to go on a rate-cutting binge put investors in a buying mood. Elsewhere, in Europe at midday, Britain’s FTSE 100 fell a modest 0.1% after data from the Office for National Statistics showed economic growth slowed to 0.1% in the July-September quarter from the 0.5% in the previous quarter. It was below analysts' estimates.In Tokyo, the Nikkei 225 index gained 0.3% to 38,642.91. The yen has been weakening against the U.S. dollar, boosting share prices for exporter like Nissan Motor Co., whose shares jumped 4.5% on Friday.
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