Stocks Down Slightly after Sharp Rises Tuesday

Stocks pulled back slightly following a historic historic rally in the previous session in anticipation of a coronavirus stimulus deal by Congress. The White House and Senate reached an agreement overnight.

The Dow Jones Industrials dipped 14.02 points, or 11.4%, to 20,704.91, a day after the big board notched its sharpest one-day percentage gain since 1933, and steepest point rise ever. The 30-stock index was boosted by gains from Boeing, airborne 18%, and Nike, up 9.5%.

The broader S&P 500 dropped 27.43 points, or 1.1%, to 2,419.90,

The NASDAQ dropped 98.16 points, or 1.3%, to 7,319.70
White House and Senate leaders agreed to a massive $2-trillion coronavirus stimulus bill in the middle of the night.
Prices for the 10-Year U.S. Treasury gained, lowering yields to 0.81% from Tuesday’s 0.84%. Treasury prices and yields move in opposite directions.

Oil prices subtracted 63 cents to $23.38 U.S. a barrel.

Gold prices slumped $20.60 to $1,640.20 U.S. an ounce.