US Stock Indexes Sag as a Two-Day Rally Peters Out
He also said that he thinks the U. S. government will "end up probably terminating" the North American Free Trade Agreement with Canada
and Mexico, though he also said that he has yet to make up his mind.
NEW YORK — Stocks retreated on Wednesday and gave back some of their gains from a day
earlier, when the Standard & Poor’s 500 index had one of its best days of the year.
It gave a profit outlook for the year that fell short of Wall Street’s forecast, and its stock fell $2.81, or 3.7 percent, to $73.01.
The Standard & Poor’s 500 index fell 8.47 points, or 0.3 percent, to 2,444.04, relinquishing about a third of its big gain from Tuesday.
In a speech late Tuesday, President Donald Trump said
that "if we have to close down our government, we’re building that wall" that he wants on the border between Mexico and the United States.
Lowe’s, the home-improvement retailer, also dragged down the S&P 500 after it reported profit
and revenue for the latest quarter that were weaker than analysts expected.
She said she noticed CEOs talking a lot about their hopes for tax reform or infrastructure spending earlier
this year, when companies were reporting their results for the January-through-March quarter.
In overseas stock markets, the French CAC 40 fell 0.3 percent, Germany’s DAX dropped 0.5 percent and the FTSE 100 in London was close to flat.
The Dow Jones industrial average fell 87.80 points, or 0.4 percent, to 21,812.09, and the Nasdaq composite lost 19.07, or 0.3 percent, to 6,278.41.
