- Stocks fell for the second straight day, continuing their modest pullback from recent all-time highs and sending the Dow and S&P to their lowest levels in two weeks.
- The result "is a combination of three days in a row of data that's not terrible but it's not good, and heading into the big jobs report," says TD Ameritrade chief derivatives strategist J.J. Kinahan.
- Declines were broad-based, with nearly all S&P 500 sectors in negative territory, as telecom stocks (-1.2%) were the worst performers while healthcare was the sole gainer (+0.3%).
- Investor participation was in-line with recent trends, as ~705M shares changed hands at the NYSE floor.
- Treasury prices started higher but surrendered those gains and spent the afternoon near unchanged, with the 10-year note ending flat and its yield at 2.12%.
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