Tuesday’s early trade: Wall Street dips after solid start to March

NEW YORK: Wall Street’s major averages dipped on Tuesday after a strong start to March as investors closely monitored the bond market as well as progress on the next round of fiscal stimulus.

The technology sector weighed the most on the benchmark S&P 500. Healthcare, materials and energy stocks extended gains from the previous session.

The S&P 500 on Monday logged its best day since June as markets cheered approval of a third COVID-19 vaccine in the United States and the US House of Representatives’ green light for a $1.9 trillion coronavirus relief package.

At 9:49 a.m. ET, the Dow Jones Industrial Average fell 57.30 points, or 0.18%, to 31,478.21, the S&P 500 lost 11.88 points, or 0.30%, to 3,889.94 and the Nasdaq Composite lost 81.49 points, or 0.60%, to 13,507.34.