Wall Street hits the brakes for the first time in five sessions

January 12, 2021 - 2 weeks ago
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Wall Street took a breather on Monday as all three major U.S. stock market indices slip for the first time in five days, as investors dealt with the latest news regarding House Democrats on Monday moved forward with their plans to impeach President Donald Trump, blaming the outgoing Republican leader for inciting the attack.

Multiple Cabinet-level officials have quit since the riot, with President-elect Joe Biden set to be inaugurated on Jan. 20.

At the finishing bell, on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average slipped -89.28 points, or -0.29%, at 31,008.69, dragged down by a -2.3% drop in Apple’s stock.

The Standard & Poor’s 500 Index was trading -25.07 points, or -0.66% lower, to 3,799.61, while, the rich-tech Nasdaq Composite fell -165.54 points, or +1.25%, to 13,036.43 as Facebook, Amazon, Netflix, and Google-parent Alphabet all closed lower.

Twitter stock plunged more than -6% after the social media company permanently banned Trump from the platform. But its shares were still more than +160% higher than where they traded before Trump won the presidential election in 2016.

Shares of electric vehicle maker Tesla fell -7.8% for its first negative day in 12 on Monday.

Shares in Eli Lilly and Co rose +11.7%, making it the most significant single boost for the S&P 500 after a small trial of its experimental Alzheimer’s drug found that it slowed by about a third the rate of decline in a combined measure of cognition and function in patients at an early stage of the disease.

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