Stocks Retreat From Records Amid Vaccine Concern: Markets Wrap
- Oil rises after OPEC+ reaches agreement to ease output cuts
- Dollar extends slide to lowest level in more than two years
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U.S. stocks retreated from record highs just before the close of trading to finish little changed after a report briefly spurred confusion over the Covid vaccine roll out.
The S&P 500 ended in the red, while the Nasdaq Composite managed to close at an all-time high. The benchmark S&P spent most of the session at a record before a report that identified supply chain problems behind a previously disclosed slowdown in Pfizer Inc.’s production plans for its vaccine. Sentiment also weakened after California said it will lock down its economy if critical-care units reach capacity. Small caps outperformed as the reopening rotation continued.