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Stocks fell slightly on Wednesday after a record-setting session for Wall Street.
The Dow Jones Industrials stumbled 136.27 points to 44,420.07
The S&P 500 index lost 9.65 points to 6,119.93
The tech-heavy NASDAQ removed 61.7 points to 19,979.86.
Home Depot and Sherwin-Williams led the Dow declines, dropping about 1% each. Materials were the worst-performing sector in the S&P 500, losing 1%. The S&P 500 energy sector bucked the trend with a gain of 1.4%.
The broad market index on Tuesday climbed to an all-time high, even as concerns around sticky inflation and President Donald Trump’s trade policies persist. The benchmark hit an intraday record of 6,129.63 and earned a record close at 6,129.58.
Trump Tuesday floated the notion of imposing a 25% tariff on imported autos, chips and pharmaceuticals. Trump did not specify whether or not the potential duties would be targeted or broad, but did say they could be implemented as soon as April 2.
Prices for the 10-year Treasury gained ground, lowering yields to 4.54% from Tuesday’s 4.55%. Treasury prices and yields move in opposite directions.
Oil prices progressed 98 cents to $72.93 U.S. a barrel.
Prices for gold moved up two dollars an ounce to $2,951 U.S.
