S&P Snaps 6-Day Win Streak as Market Rally Loses Steam
The S&P 500 fell for the first time in more than a week as the market’s latest run finally ran out of steam on a slow Tuesday for Wall Street.
The market benchmark dropped 0.4% to snap its six-day winning streak. The Dow Jones Industrial Average fell 115 points, or 0.3%. The Nasdaq Composite fell 0.4%.
There wasn’t much driving the market on Tuesday. Investors are still a bit on edge about the Moody’s downgrade of U.S. sovereign debt, as the yield on the 10-year Treasury note rose to 4.48% and the U.S. Dollar Index fell 0.4%.
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