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The S&P 500 retreated from a record on Thursday as investors tried to shrug off concerns tied to a U.S. government shutdown that had entered its second day.
The Dow Jones Industrial Index lost 76.33 points to 46,364.77.
The much-broader index deleted 6.9 points to 6,703.30, after Wednesday’s record high,
The tech-heavy NASDAQ gathered 45.98 points to 22,801.32, supported by a gain in Nvidia shares, which also reached an all-time high, as investors continued to pile into the artificial intelligence giant.
The current shutdown began after top Democrats and Republicans failed Tuesday to meet the deadline to agree on a deal that would keep the government funded. Lawmakers blamed each other for the stoppage as Democrats stayed firm on their demands to use the measure to extend health-care tax credits for millions of Americans.
The biggest question for investors is how long the current stalemate will last. It is likely to drag on for at least three days with the Senate set to be out of session Thursday in observance of Yom Kippur, making Friday the next day
Senators would be expected to vote again. On prediction markets, traders are betting that the shutdown could drag on for nearly two weeks.
Prices for the 10-year Treasury made up some ground, sending yields back down to Wednesday’s 4.10%. Treasury prices and yields move in opposite directions.
Oil prices shed 96 cents to $60.82 U.S. a barrel.
Gold prices slid $45.40 to $3,852.10 U.S. an ounce.
