Economics
U.S. Stocks Stumble Into Close Amid Impeachment: Markets Wrap
- FedEx, B&O results disappoint; dollar gains, Treasuries slip
- Sterling extends drop on hard-Brexit fears; oil rebounds
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U.S. stocks receded just before the closing bell as investors digested a flurry of corporate news and Congress debated the impeachment of Donald Trump. Treasuries slipped and the British pound weakened.
The S&P 500 Index fell Wednesday -- after spending most of the day higher -- snapping a five-session streak of gains. Tech shares stumbled toward the end of regular trading as Apple Inc. slid from the day’s highs. FedEx Corp. plunged after a forecast cut. With few big economic headlines imminent, and much of the U.S. focused on the impeachment vote, investors may take a wait-and-see stance as the holidays near.