Monday, 21 November 2016

Wall Street slips, led by healthcare decline

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US stocks ended lower on Friday, with healthcare stocks leading the declines, as investors cashed in on a post-election rally and waited for clarity on the next administration's policies. Wall Street equities took a breather after rising dramatically since Donald Trump's surprise victory in the presidential election last week. While the three major indexes closed higher for the second week in a row, the rally lost some steam this week as investors awaited more information to support their bets that Trump could succeed in passing proposals to lift infrastructure spending and reduce taxes. Director of the NYSE floor division at O’Neil Securities in New York. "Trump's policies continue to be just rhetoric because none of it has been enacted." 

 

The Dow Jones industrial average fell 35.89 points, or 0.19 percent, to 18,867.93 while the S&P 500 dropped 5.22 points, or 0.24 percent, to 2,181.9. The Nasdaq Composite slipped 12.46 points, or 0.23 percent, to 5,321.51 after hitting a record of 5346.8. The Nasdaq's biggest drags came from technology companies such as Alphabet Inc and drug firms including Amgen.

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