US Stocks Take Breather After Monday's Rally That Pushed S&P 500, Dow to Record Highs; Oil Declines With Treasuries

Tuesday, November 17, 2020 12:20 PM | MT Newswires

US stocks paused for a breath, declining a day after S&P 500 and the Dow Jones Industrial Average closed at record highs as a second, highly effective COVID-19 vaccine looked set to emerge to help control the global pandemic.

The Dow Jones Industrial Average slipped by 178.06 points, or 0.6%, to 29,772.38, with the S&P 500 down by 0.4% to 3,612.92. The Nasdaq Composite Index was lower by 0.2% to 11,905.65. Utilities and materials were among the steepest decliners, with all sectors but one in the red after midday on Tuesday.

The US 10-year yield retreated by 2.8 basis points to 0.88% and the West Texas Intermediate futures dropped by 1% to $40.93.

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