U.S. stock indexes are drifting lower on Tuesday, as momentum slows for Wall Street after it rallied from a deep hole nearly all the way back to its all-time high set earlier this year.
The S&P 500 was down 0.3 percent in afternoon trading but still within 3.2 percent of its record. The Dow Jones Industrial Average was down 89 points, or 0.2 percent, as of 2:03 p.m. Eastern time, and the Nasdaq composite was 0.3 percent lower.
Treasury yields were also drifting in the bond market, while the value of the U.S. dollar was relatively stable against other currencies following a brief jolt Monday morning after Moody’s Ratings said the U.S. government no longer deserves a top-tier credit rating because of worries about its spiraling debt.
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