S&P 500 Falls After $8.6 Trillion Surge From Lows: Markets Wrap

Wall Street’s rally took a breather on Tuesday, with stocks falling as traders awaited fresh catalysts after a six-day run that put the S&P 500 up almost 20% from its April lows.

The US equity benchmark lost steam following an $8.6 trillion surge to around “overbought” levels. A slide in its most-influential group - big tech - weighed on trading, with Alphabet Inc. down 1.5% amid the company’s developer conference. Tesla Inc. was the only megacap gaining as Elon Musk said he’s committed to leading the electric-vehicle giant five years from now.