The Dow Jones Industrial Average fell 68.95 points, or 0.22 percent, to 30,991.52. The S&P 500 was down 14.30 points, or 0.38 percent, to 3,795.54. The Nasdaq Composite Index decreased 16.31 points, or 0.12 percent, to 13,112.64.
Earlier in the day, all the three major indexes traded higher with the 30-stock index up more than 160 points at session highs.
Seven of the 11 primary S&P 500 sectors pulled back, with technology down 0.95 percent, leading the laggards. Energy surged 3.01 percent, the best-performing group.
U.S.-listed Chinese companies traded mostly lower with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.
Wall Street awaited details of additional economic stimulus as President-elect Joe Biden is expected to unveil his proposed stimulus later Thursday.
On the data front, U.S. initial jobless claims, a rough way to measure layoffs, soared to 965,000 in the week ending Jan. 9, following 784,000 in the prior week, the Department of Labor reported Thursday, as the surging COVID-19 pandemic continues to threaten the labor market.
Latest comments