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% Thursday. The Dow Jones Industrial Average dropped 0.5%, and the Nasdaq composite sank 0.6%.
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%, to 5,949.17.
The Dow Jones Industrial Average fell 207.33 points, or 0.5%, to 43,750.86.
The Nasdaq composite fell 137.07 points, or 0.6%, to 19,107.65.
The Russell 2000 index of smaller companies fell 32.43 points, or 1.4%, to 2,336.94.
For the week:
The S&P 500 is down 46.37 points, or 0.8%.
The Dow is down 238.13 points, or 0.5%.
The Nasdaq is down 179.13 points, or 0.9%.
The Russell 2000 is down 62.70 points, or 2.6%.
For the year:
The S&P 500 is up 1,179.34 points, or 24.7%.
The Dow is up 6,061.32 points, or 16.1%.
The Nasdaq is up 4,096.30 points, or 27.3%.
The Russell 2000 is up 309.86 points, or 15.3%.
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