Wall Street’s rally stalls as US stocks post their 1st loss in 4 days
By STAN CHOE, AP Business Writer
NEW YORK (AP) — Wall Street’s rally stalled after stocks climbed back within 2% of their all-time high. The S&P 500 slipped 0.3% Wednesday, marking its first drop in four days. The Dow Jones Industrial Average ended little changed, and the Nasdaq composite lost 0.5%. The action was stronger in the bond market, where Treasury yields eased after a report showed inflation ticked up by less last month than economists expected. That raised expectations for the Federal Reserve to cut interest rates later this year. Markets didn’t react much to the conclusion of two days of trade talks between the U.S. and China.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
NEW YORK (AP) — Wall Street’s rally is stalling on Wednesday after U.S. stocks climbed back within 2% of their all-time high.
The S&P 500 was 0.4% lower in late trading and on track for its first drop in four days. The Dow Jones Industrial Average was down 45 points, or 0.1%, with roughly an hour remaining in trading, and the Nasdaq composite was 0.6% lower.
