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July 8, 2020

Wall Street suffers a pullback

By STAN CHOE and ALEX VEIGA
AP Business Writers

Wall Street's recent string of big gains came to an abrupt stop Tuesday as stocks closed broadly lower following a pullback in markets overseas.

The S&P 500 fell 1.1% after spending most of the day in the red. The sell-off snapped the index's five-day winning streak. Technology stocks, banks and companies that rely on consumer spending accounted for a big slice of the slide, which accelerated toward the end of the day. Bond yields fell and the price of gold rose, another sign of caution in the market.


 
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