U.S. Stocks Lower After Three Day Advance

U.S. stocks fell, snapping a three-day rally for the Dow industrials that had lifted the benchmark from six-month lows.  After trading nearly flat for most of the morning, stocks tilted lower just before noon. The Dow Jones Industrial Average finished down 153.49 points, or 0.9%, at 16461.32, near the session’s low.

The S&P 500 fell 14.17 points, or 0.7%, to 1927.11, and the Nasdaq Composite Index gave up 36.63 points, or 0.8%, to 4382.85.  Traders said there was no single factor driving the selloff and noted that market activity was quieter than in recent days.

In the background, investors remain wary after several weeks of wild swings in stocks, traders said. “Everyone was pretty shaken [last week], then we rallied back,” said Rick Fier, director of equity trading at Conifer Securities in New York. “It’s kind of normal that a big push higher brings on some selling,”  The S&P 500 on Tuesday had jumped 2%, for its biggest percentage gain in over a year, while the Nasdaq Composite’s 2.4% rally was its biggest one-day advance since January 2013.

WSJ

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