S&P 500 falls for the first time in six days, Nasdaq retreats from record high

The Dow Jones Industrial Average on Wednesday snapped a six-day win streak, a listless day for US stocks that brought a respite from the steep bull market in the equities market.

The blue-chip index fell 0.34 percent to 24,009.50 in choppy trading, while the S&P 500 lost 0.22 percent to 2,629.95. Both indexes had set records in the prior three sessions, including Tuesday’s highest close in five years.

Wall Street has gone six days without a change in which direction the S&P 500 is trending, and the Dow Jones has been in a much longer funk, having recorded its 10th straight decline on Monday.

The other major market indexes, meanwhile, have been on a frenetic tear. The Nasdaq Composite, buoyed by a tech stock rally and less than a token pullback from FAANG stocks, set a record peak Tuesday and Wednesday before falling 0.37 percent to 6,975.71 Wednesday.

Smaller company stocks have been outperforming, with the Russell 2000 index jumping 1.1 percent Wednesday to 1,362.74.

“Equities continue to clobber bonds and corporate bonds,” Charles DeBenedictis, chief investment officer at Carmignac Gestion, wrote in a research note on Wednesday.

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