U.S. stock slipped as Wall Street took a pause from its relentless rally.
The S&P 500 fell 0.6% Tuesday. The Dow Jones Industrial Average dipped 0.2%, and the Nasdaq composite sank 0.9%.
It’s the first pullback for the indexes after the trio set all-time highs in each of the last three days Since surging from a bottom in April, the broad U.S. stock market has faced criticism that it’s shot too high, too fast and become too expensive.
Even the head of the Federal Reserve said on Tuesday that stock prices broadly look fairly highly valued. Nvidia was the heaviest weight on the market.
On Tuesday:
The S&P 500 fell 36.83 points, or 0.6%, to 6,656.92.
The Dow Jones Industrial Average fell 88.76 points, or 0.2%, to 46,292.78.
The Nasdaq composite fell 215.50 points, or 0.9%, to 22,573.47.
The Russell 2000 index of smaller companies fell 5.82 points, or 0.2%, to 2,457.51.
For the week:
The S&P 500 is down 7.44 points, or 0.1%.
The Dow is down 22.49 points, less than 0.1%.
The Nasdaq is down 58 points, or 0.3%.
The Russell 2000 is up 8.74 points, or 0.4%.
For the year:
The S&P 500 is up 775.29 points, or 13.2%.
The Dow is up 3,748.56 points, or 8.8%.
The Nasdaq is up 3,262.68 points, or 16.9%.
The Russell 2000 is up 227.36 points, or 10.2%.