LONDON: U.S. stocks closed lower Tuesday, capping off a quiet trading session as the most recent push toward record highs ran out of steam.
The Dow Jones Industrial Average fell 104.90 points, or 0.6%, to 18011.14. The S&P 500 declined 12.92 points, or 0.6%, to 2091.50, and the Nasdaq Composite lost 16.25 points, or 0.3%, to 4994.73.
“It just seems like we’re in a holding pattern,” said Justin Wiggs, managing director of equity trading at Stifel Nicolaus. Trading activity was subdued, he said. Tuesday saw the second-lowest trading volume of the year, while Monday was the third-lowest.
Stocks have resumed their slow march to record highs in recent weeks, after seeing bigger swings earlier in the year. The Dow is 1.5% below its record close of 18288.63 and the S&P is 1.2% from its all-time high of 2117.39. The tech-heavy Nasdaq is 1.1% from its closing record of 5048.62, set on March 10, 2000.
