US Stock Rally Pauses
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US stocks experienced a pullback on Tuesday, halting a recent rally fueled by post-election optimism.
The S&P 500 declined by 0.3%, the Dow Jones Industrial Average fell 382 points, and the Nasdaq Composite edged slightly lower.
Notable individual stock movements included a 6.1% drop for Tesla and an 8.8% decline for Trump Media & Technology Group.
On the other hand, Nvidia, Microsoft, and Alphabet gained 2.1%, 1.3%, and 0.7%, respectively.
Sector-wise, materials, real estate, and utilities were among the biggest losers, while communication services and technology led the gains.
Investor sentiment softened as concerns about economic challenges, profit-taking after recent record highs, and rising Treasury yields, including a 10-year yield of 4.43%, weighed on the market.
Market participants are now focused on upcoming economic data, particularly the Consumer Price Index (CPI), as they seek clues about the Federal Reserve’s future monetary policy.
Data: Trading Economics, FactSet, Morningstar, S&P Capital IQ, ProRealTime, MarketScreener