Economics
Stocks Post Year's First 3-Day Slide; Dollar Gains: Markets Wrap
- S&P 500 remains stuck below 2,800 level without new catalysts
- Nikkei, Hang Seng indexes fell after Trump-Kim summit ended
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U.S. stocks fell for a third consecutive day for the first time this year as lingering concerns over trade and geopolitical risks offset a report showing the economy cooled by less than expected last quarter. The dollar climbed and Treasury yields increased.
“With this positive momentum, investors are just looking for a little bit of a pause,” said Gene Goldman, chief investment officer at Cetera Investment Management. “Now on the docket is what’s next? We had some data reports and GDP today, but that’s still two month-old data, so investors need some more news.”