U.S.
stocks were slightly lower on Tuesday, weighed down by financial and
technology shares, and as investors braced for a potentially tense
meeting between President Donald Trump his and Chinese counterpart Xi
Jinping.
Trump, known to have a protectionist stance on trade, has held out the possibility of using trade as a lever to secure China's cooperation against North Korea when he meets Jinping on Thursday and Friday.
That has led to questions whether Trump could deliver on his promises of tax cuts, looser regulations and higher spending on infrastructure, pro-business economic stimulus plans that has helped power the major U.S. stock indexes to record highs.
At 9:37 a.m. ET (1337 GMT), the Dow Jones Industrial Average .DJI was down 21.82 points, or 0.11 percent, at 20,628.39, the S&P 500 .SPX was down 4.6 points, or 0.20 percent, at 2,354.24 and the Nasdaq Composite .IXIC was down 7.90 points, or 0.13 percent, at 5,886.79.
Nine of the 11 major S&P 500 sectors were lower. The S&P technology sector .SPLRCT was off 0.32 percent, weighing the most on the benchmark index.
The biggest drag on the S&P 500 and the Nasdaq was Nvidia (NVDA.O), which dropped 4 percent to $104 after Pacific Crest downgraded the stock to "underweight" from "sector weight".
The financials index .SPSY fell 0.39 percent, led by Bank of America (BAC.N). The lender's stock dropped 1.1 percent after a rating cut by Citigroup.
General Communications (GNCMA.O) soared about 54 percent after John Malone's Liberty Interactive said it would buy the Alaska-based telecom company for $1.12 billion.
Liberty Interactive's two tracking stock rose. QVC Group (QVCA.O) gained about 4 percent and Liberty Ventures (LVNTA.O) jumped nearly 9 percent.
Declining issues outnumbered advancers on the NYSE by 1,452 to 1,068. On the Nasdaq, 1,076 issues fell and 1,050 advanced.
The S&P 500 index showed four 52-week highs and two lows, while the Nasdaq recorded 14 highs and 10 lows
Trump, known to have a protectionist stance on trade, has held out the possibility of using trade as a lever to secure China's cooperation against North Korea when he meets Jinping on Thursday and Friday.
That has led to questions whether Trump could deliver on his promises of tax cuts, looser regulations and higher spending on infrastructure, pro-business economic stimulus plans that has helped power the major U.S. stock indexes to record highs.
At 9:37 a.m. ET (1337 GMT), the Dow Jones Industrial Average .DJI was down 21.82 points, or 0.11 percent, at 20,628.39, the S&P 500 .SPX was down 4.6 points, or 0.20 percent, at 2,354.24 and the Nasdaq Composite .IXIC was down 7.90 points, or 0.13 percent, at 5,886.79.
Nine of the 11 major S&P 500 sectors were lower. The S&P technology sector .SPLRCT was off 0.32 percent, weighing the most on the benchmark index.
The biggest drag on the S&P 500 and the Nasdaq was Nvidia (NVDA.O), which dropped 4 percent to $104 after Pacific Crest downgraded the stock to "underweight" from "sector weight".
The financials index .SPSY fell 0.39 percent, led by Bank of America (BAC.N). The lender's stock dropped 1.1 percent after a rating cut by Citigroup.
General Communications (GNCMA.O) soared about 54 percent after John Malone's Liberty Interactive said it would buy the Alaska-based telecom company for $1.12 billion.
Liberty Interactive's two tracking stock rose. QVC Group (QVCA.O) gained about 4 percent and Liberty Ventures (LVNTA.O) jumped nearly 9 percent.
Declining issues outnumbered advancers on the NYSE by 1,452 to 1,068. On the Nasdaq, 1,076 issues fell and 1,050 advanced.
The S&P 500 index showed four 52-week highs and two lows, while the Nasdaq recorded 14 highs and 10 lows
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