Dow eyes fifth straight day of losses
U.S. stocks are trading lower as investors remained cautious following the prior session’s first sharp slump in months, which some analysts attribute to worries that momentum for President Donald Trump’s pro-growth policies is fading.
The S&P 500 index SPX, -0.28% was off 4 points, or 0.2%, at 2,340, with nine of the 11 main sectors trading lower. Financials and telecoms led the decliners, while utilities and technology stocks were the bright spot.
The Dow Jones Industrial Average DJIA, -0.39% was off by 54 points, or 0.3%, to 20,610, on track for its fifth consecutive decline.
The Nasdaq Composite Index COMP, -0.08% was up 5 points, or less than 0.1%, at 5,798.
Tuesday’s selloff came as issues with the Republicans’ health-care bill prompted investors to question Trump’s ability to follow through on promises of tax reforms and $1 trillion in infrastructure spending, according to Connor Campbell, financial analyst at Spreadex. A vote on the bill has been set for Thursday.