S&P 500, Dow Jones retreat from record highs after bleak jobless data

Topics US markets | S&P 500 | Dow Jones

Wall Street was mixed on Wednesday as surging layoffs in the wake of a new round of shutdowns to contain spiraling COVID-19 infections dampened investor risk appetite. The S&P 500 and the Dow Jones Industrial Average retreated from record closing highs, pulled lower by cyclicals and small caps that drove the rally earlier in the week.

Pandemic-resilient tech and tech-adjacent market leaders helped keep the Nasdaq afloat. "Days like we're seeing today on the heels of strong growth is a response to the ebb and flow of the market,".

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