The benchmark “Standard & Poor’s 500” index closed lower on Tuesday, after reversing its course late in the session following comments about a stalemate in talks on legislation for a public spending package to stimulate the US economy.
The benchmark remained high for most of the session and approached at one stage from its record high closing level, which it hit in February before the start of the Corona virus crisis in the United States, which caused one of the largest collapses in the history of Wall Street.
Senator Mitch McConnell, the leader of the Republicans in the US Senate, told Fox News that White House negotiators today did not speak with Democratic leaders in Congress about aid legislation to mitigate the repercussions of the pandemic after talks collapsed last week.
The Dow Jones Industrial Average closed lower as well, while the Nasdaq index fell more than 1 percent, in a weaker performance than other major indices, as investors continued to sell technology shares.
The “Dow Jones” ended the trading session down 104.53 points, or 0.38 percent, to 27,686.91 points, while the “Standard & Poor’s 500 benchmark” index fell 26.78 points, or 0.79 percent, to close at 3333.69 points.
The Nasdaq Composite Index also fell 182.74 points, or 1.67 percent, to close at 10,785.62 points.