Stocks hit brakes after 4- day rally

Banks and technology companies led a broad slide for stocks on Wall Street on Tuesday, snapping the market’s four- day winning streak.

The Standard & Poor’s 500 index lost 0.6%, giving back some of its gains from a day earlier. The pullback came as many forces are pushing and pulling on markets simultaneously. Coronavirus counts are rising at a worrying rate in many countries around the world, a trend that’s increasing the urgency behind efforts to develop treatments.

Meanwhile, uncertainty about the prospects for more stimulus for the economy from Washington continues to hang over markets.

The S& P 500 fell 22.29 points to 3,511.93. The Dow Jones industrial average dropped 157.71 points, or 0.6%, to 28,679.81. The Nasdaq composite gave up an early gain, slipping 12.36 points, or 0.1%, to 11,863.90.

Several companies kicked the third- quarter earnings reporting season off Tuesday with betterthan- expected reports. JPMorgan Chase, Johnson & Johnson, Citigroup and BlackRock all reported stronger results than analysts had forecast.

Their stocks, though, closed mixed. BlackRock rose 3.9%, while JPMorgan Chase and Citigroup gave up initial gains and fell 1.6% and 4.8%, respectively.

On the winning side was Walt Disney, which climbed 3.2% after it announced a major reorganization to focus on Disney Plus and other streaming services.

The yield on the 10- year Treasury fell to 0.72% from 0.79% late Friday. Treasury markets were closed Monday for a holiday.

A government report showed consumer prices were 0.2% higher in September than August, matching economists’ expectations.