Stock Market Today: Stocks Give Up Early Gains
We’ve been here before.
The S&P 500 got off to a strong start but it was down 0.5% in early afternoon trading. The Dow was down 200 points, or 0.4%. The Nasdaq Composite was down 0.5%.
The yield on the 2-year Treasury note was down to 3.48%. The 10-year yield was down to 4.02%.
For the S&P, financials, industrials, energy, consumer staples, consumer discretionary, utilities, and materials were all down 0.1% or more. Real estate, tech, and health care were up about 0.3%, while communication services was up 0.2%.
Large technology stocks were losing ground, with Apple, Tesla, and Meta Platforms down on the day. Nvidia and Alphabet were up 0.9% or more, while Amazon.com and Microsoft were up slightly.
Wall Street is struggling to break out of its sideways range after falling sharply late last week. With trade war worries hanging over markets, traders may not be comfortable piling on the next move—up or down.