Wall Street’s record-breaking rally is running out of momentum.
The S&P 500 dipped 0.4% Tuesday from its latest all-time high and broke a seven-day winning streak. The Dow Jones Industrial Average fell 0.2%, and the Nasdaq composite lost 0.7%.
Drops for Tesla and Oracle helped weigh on the market. They offset gains for several stocks benefiting from the continued boom in artificial-intelligence technology.
Gold climbed and topped $4,000 per ounce to continue its stellar year amid worries about politics and the potential for high inflation in the future.
On Tuesday:
The S&P 500 fell 25.69 points, or 0.4%, to 6,714.59.
The Dow Jones Industrial Average fell 91.99 points, or 0.2%, to 46,602.98.
The Nasdaq composite fell 153.30 points, or 0.7%, to 22,788.36.
The Russell 2000 index of smaller companies fell 27.93 points, or 1.1%, to 2,458.42.
For the week:
The S&P 500 is down 1.20 points, or less than 0.1%.
The Dow is down 155.30 points, or 0.3%.
The Nasdaq is up 7.86 points, or less than 0.1%.
The Russell 2000 is down 17.75 points, or 0.7%.
For the year:
The S&P 500 is up 832.96 points, or 14.2%.
The Dow is up 4,058.76 points, or 9.5%.
The Nasdaq is up 3,477.57 points, or 18%.
The Russell 2000 is up 228.27 points, or 10.2%.
The Associated Press
