NEW YORK, July 28 ― US stocks fell yesterday, ending a five-day winning streak in the three major indexes, as investors were cautious before results from top tech and internet names and today's Federal Reserve announcement.
Also, electric-car maker Tesla Inc fell 2 per cent, a day after it posted a bigger-than-expected second-quarter profit but said a global chip shortage that led to temporary factory shutdowns for the automaker remains serious. Adding to the cautious tone is the outlook for US-listed Chinese stocks, he said. The shares including Baidu extended losses as fears over more regulations in the mainland persisted.Uncertainty also rose as the Fed began its two-day meeting, with investors looking for signs on when it intends to begin reining in its massive stimulus programme.
In another sign that investors were in a risk-off mood, defensive sectors such as real estate and utilities were the two best-performing S&P 500 categories for the day, and US Treasuries prices rose.