Reuters BRENDAN MCDERMID
Wall Street closed lower, affected by losses in shares of “Apple” and “Tesla”, while the shares of basic resource companies rose while investors await the approval of Congress on another stimulus package.
In the wake of strong gains in the previous session, technology stocks fell as investors moved from stocks that showed strong performance due to the Coronavirus pandemic, to other sectors seen as likely to do well as the economy recovers.
Shares in electric car maker Tesla fell more than 4 percent, while Apple shares fell 2 percent.
The yields of the benchmark 10-year US Treasury bonds stabilized, after hitting the highest level in a year last week.
The Dow Jones industrial average ended the trading session down 0.46 percent to 31,390.47 points, while the benchmark “Standard & Poor’s 500” index fell 0.81 percent to close at 3,870.29 points.
The Nasdaq composite index closed 1.69 percent down to 13,358.79 points.