Major US stock indices moderately declined amid losses in various sectors, as investors' appetite for risk was curbed by geopolitical tensions in Asia and President Donald Trump's accusation that his predecessor, Barack Obama, was tapping his phone.
Some investors are concerned that the charges can distract Trump from his economic agenda. Promises to cut taxes and ease regulatory pressure have had an impact on the record Wall Street rally after the election.
In addition, as it became known, new orders for goods produced in the US, increased in the second consecutive month in January. This change signals that recovery in the manufacturing sector is gaining momentum, as rising commodity prices stimulate increased demand for cars. The Ministry of Trade reported that in February production orders increased by 1.2% after rising by 1.3% in December. Economists had expected orders to grow by 1.0%.
Components of the DOW index closed mostly in the red (17 out of 30). More shares fell The Travelers Companies, Inc. (TRV, -1.22%). Caterpillar Inc. was the growth leader. (CAT, + 0.73%).
Almost all sectors of the S & P index finished trading in the red. Most of all, the consumer goods sector fell (-0.4%). The increase was recorded only by the conglomerate sector (+ 0.3%).
At closing:
Dow -0.24% 20.956.19 -49.52
Nasdaq -0.37% 5,849.18 -21.57
S & P -0.32% 2,375.43 -7.69