NEW YORK - US equities had another bumpy ride on Tuesday , pulling back from new records to close lower as the spike in coronavirus infections undermined tentative optimism about the economic recovery.
Wall Street has lurched up and down in recent weeks, with changing economic fortunes. The recent rally has been propelled by optimism over news of two successful coronavirus vaccines. "With the virus now spreading at a fast rate, the next few months may be very challenging," Powell said in a discussion.
The data indicate slowing growth in a sector that bounced back from the pandemic downturn faster than most others thanks to massive government assistance that kept consumers flush.
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