U.S. stocks slipped as the market’s big burst following Donald Trump’s election continued to cool.
The S&P 500 dipped 0.6 percent Thursday. The Dow Jones Industrial Average dropped 0.5 percent, and the Nasdaq composite sank 0.6 percent.
Several areas of the market that had bounced highest following Trump’s election reversed their momentum and led the way lower.
Short-term Treasury yields swung following the latest economic reports before rising after Chair Jerome Powell said the Federal Reserve is not in a hurry to cut interest rates.
On Thursday:
The S&P 500 fell 36.21 points, or 0.6 percent, to 5,949.17.
The Dow Jones Industrial Average fell 207.33 points, or 0.5 percent, to 43,750.86.
The Nasdaq composite fell 137.07 points, or 0.6 percent, to 19,107.65.
The Russell 2000 index of smaller companies fell 32.43 points, or 1.4 percent, to 2,336.94.
For the week:
The S&P 500 is down 46.37 points, or 0.8 percent.
The Dow is down 238.13 points, or 0.5 percent.
The Nasdaq is down 179.13 points, or 0.9 percent.
The Russell 2000 is down 62.70 points, or 2.6 percent.
For the year:
The S&P 500 is up 1,179.34 points, or 24.7 percent.
The Dow is up 6,061.32 points, or 16.1 percent.
The Nasdaq is up 4,096.30 points, or 27.3 percent.
The Russell 2000 is up 309.86 points, or 15.3 percent.
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