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S&P and Dow retreat from records as rally this week loses some momentum: Live updates
The S&P 500 and Dow Jones Industrial Average pulled back from record levels on Wednesday as areas of the market that were hot to start the year lost steam.
The broad market index was last down 0.2% after rising 0.3% to a fresh all-time intraday high, while the 30-stock Dow fell 410 points, or 0.8%, after it gained more than 150 points, or 0.3%, to score a new high earlier in the session as well. The Nasdaq Composite gained 0.3%.
Financials and energy — two of the sectors that started off 2026 strong — saw losses during the trading day, with both declining more than 1%. Bank stocks that gave back some of their gains included JPMorgan, Bank of America and Wells Fargo. Meanwhile, Exxon Mobil, Chevron and ConocoPhillips were key laggards in the energy space.
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