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  • Wall Street stocks were under pressure in early trading Tuesday as an equity rally showed signs of fatigue, with shares of some large tech firms retreating. About 20 minutes into trading, the tech-rich Nasdaq Composite Index, which has risen the last six sessions, fell 0.3 percent to 9,169.14. Google parent Alphabet and Microsoft both fell. The Dow Jones Industrial Average climbed 0.2 percent to 24,268.96, while the broad-based S&P 500 slipped 0.2 percent to 2,924.85. After a bruising March as major parts of the US economy shuttered to combat the coronavirus, stocks have risen steadily in anticipation of the relaunching of the economy and the boost from unprecedented US stimulus. Analysts have pointed to a "fear of missing out" among investors who see positive momentum behind this narrative as the principal driver of the latest gains. Top infectious diseases expert Anthony Fauci is expected to caution at a hearing in Congress that hasty moves to reopen the economy will lead to "needless suffering and death." PNC Financial Services fell 2.8 percent after announcing it will sell its 22.4 percent stake in financial management giant BlackRock. BlackRock dropped 5.9 percent. Tesla rose 2.3 percent after Chief Executive Elon Musk defied local officials in California and reopened an assembly plant in Alameda County. Musk has been warring with the county over restrictions imposed to limit COVID-19. jmb/cs
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  • US stocks mixed as rally shows signs of fatigue
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