Wall Street slips as retail sales post steep drop
Stocks closed lower on Wall Street Tuesday, ending a five-day winning streak by the S&P 500, as investors turned cautious amid more signs that the coronavirus pandemic is still holding back the U.S. economy.
The benchmark index fell 0.7 percent, its biggest decline in four weeks. Technology stocks and a mix of companies that rely on consumer spending were the biggest weights on the market as traders become more concerned about the pace and breadth of economic growth amid a resurgent COVID-19. Those sectors tend to perform weakly in uncertain economic conditions.