NEW YORK: Wall Street’s main indexes slipped from record levels on Wednesday as investors digested recent gains while awaiting a speech by Federal Reserve Chair Jerome Powell for clues on the pace of an economic rebound.
Tesla Inc’s 4.2% slide and Amazon.com Inc’s 1.1% drop weighed the most on the S&P 500 and the Nasdaq. Shares of both the companies pulled the consumer discretionary index down 1.3%.
Bets on more fiscal aid and swift vaccine distribution have powered the main US stock indexes to a series of all-time peaks recently.
Wall Street’s fear gauge spiked to a one-week high of 23.85 points.
At 10:44 a.m. ET, the Dow Jones Industrial Average fell 149.21 points, or 0.48%, to 31,226.62, the S&P 500 lost 25.08 points, or 0.64%, to 3,886.15 and the Nasdaq Composite lost 144.86 points, or 1.03%, to 13,862.84.