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Stock market today: Wall Street falls again as its march to records loses more steam

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NEW YORK (AP) — US. stocks are falling again, and the S&P 500 is on track for its first back-to-back loss in a month and a half as Wall Street’s record-breaking rally loses more momentum. The S&P 500 was 0.5% lower in early trading Tuesday.

NEW YORK — US. stocks are falling again, and the S&P 500 is on track for its first back-to-back loss in a month and a half as Wall Street’s record-breaking rally loses more momentum. The S&P 500 was 0.5% lower in early trading Tuesday. The Dow Jones Industrial Average dipped 180 points, or 0.4%, and also fell further from its all-time high set on Friday. The Nasdaq composite was 0.7% lower.

German software giant SAP rose 3.3% after it nudged past profit expectations, while personal protective gear and industrial coatings company 3M climbed 4.7% after it topped Wall Street's third-quarter sales and profit targets. With the Federal Reserve now cutting interest rates to keep the economy vibrant, optimists see stocks rising even further. Naysayers, however, see an overpriced market where the rosing cost of U.S. stocks has outpaced corporate profits.

In Asian trading, Japan's benchmark Nikkei 225 dropped 1.4% to finish at 38,411.96. Australia's S&P/ASX 200 fell 1.7% to 8,205.70, while South Korea's Kospi slipped 1.3% to 2,570.70.

 

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