US stocks tap the brakes following torrid start
NEW YORK (AP) — U.S. stock indexes took a small step back from their record levels today, as their momentum slowed following a torrid start to the year.
Losses for health care and financial stocks helped to overshadow a surge for retailers, which jumped after several boasted of strong results during their all-important holiday season.
If the trend holds, the Standard & Poor’s will have its first down day of the year.
KEEPING SCORE: The S&P 500 dipped 2 points, or 0.1 percent, to 2,741, as of 10 a.m. Eastern time.
The index had climbed in each of the four previous days, its longest winning streak to start a year since 2010.
The Dow Jones industrial average fell nearly 32 points, or 0.1 percent, to 25,264, and the Nasdaq composite was close to flat at 7,135.
Smaller stocks lagged behind the rest of the market. The Russell 2000 index dropped nearly 10, or 0.6 percent, to 1,550.
NO GO: Shares of GoPro plunged after the company gave a forecast for fourth-quarter revenue that fell far short of Wall Street’s expectations. The camera company said it had to slash prices to convince more customers to make purchases.