Equities Fall as Rally Takes Breather

November 12,2024 12:19 pm EST

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Equities Fall as Rally Takes Breather

Stocks headed slightly south Tuesday as Wall Street took a breather from a post-election rally that brought the major U.S. benchmarks to all-time highs and shifted toward a focus on economic data this week.

The Dow Jones Industrial index toppled 248.11 points to 44,045.02.

The S&P 500 index dipped 21.29 points to 5,980.06.

The NASDAQ slid 44.99 points to 19,253.77.

Tuesday's action comes a day after the Dow closed above 44,000 for the first time. The S&P 500 also had its first close above 6,000.

Artificial intelligence darling Nvidia gained more than 2%. Tesla, a post-election winner, gave back some of its recent gains, down nearly 4%.

Investors will watch Tuesday for economic data on small businesses due in the morning. They'll also monitor commentary from Federal Reserve officials including Fed Governor Christopher Waller later in the day.

The bond market reopened after Veterans Day, prices fell, driving yields up 4.43% from Friday's 4.31%. Treasury prices and yields move in opposite directions.

Oil prices regained 34 cents to $68.38 U.S. a barrel.

Prices for gold dipped $14.90 an ounce to $2,602.80 U.S.

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