Stock falls in early trading on Wall Street

Wall Street

U.S. stocks edged lower in early trading Tuesday as investors worry that rising virus cases will delay full economic recovery. At the same time, the world waits for a wide distribution of a vaccine.

The S&P 500 fell 0.1% in another slight pullback from the record high it set on Friday. The Dow Jones Industrial Average fell 13 points, or less than 0.1%, to 30,083 as of 10:13 a.m. Eastern time. The Nasdaq fell 0.2%.

The U.K. became the first Western country to start a mass vaccination program after British regulators last week authorized the use of a COVID-19 shot developed by U.S. drugmaker Pfizer and Germany’s BioNTech. In the U.S., a wide distribution of any vaccine is likely months away. Meanwhile, governments worldwide have been tightening restrictions on businesses to stem the latest surge in cases.

Investors are also keeping a close eye on Washington. Congress is still stuck in a partisan stalemate over the size and scope of any additional aid to help cushion the financial impact to people and businesses. The economy has been showing signs of a stalled recovery as the virus surge broadens nationally, including slower job growth in the U.S. last month.

A mix of communications and technology stocks led the decline. Companies that rely on direct consumer spending and those that would greatly benefit from a fuller economic reopening also fell.

Energy and industrial companies managed small gains. Shop-from-home clothing seller Stitch Fix soared 41.8% after reporting a surprise profit in its latest quarter.

Treasury yields fell slightly. The yield on the 10-year Treasury fell to 0.90% from 0.91% late Monday. Crude oil prices were also marginally lower.

European markets were also slipping. France’s CAC 40 was down 0.1%, Germany’s DAX lost 0.2%, and the FTSE 100 in London fell 0.1%. Asian markets also declined.

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