Stocks Hold Gains After Capitol Chaos Halts Surge: Markets Wrap
- S&P 500 pares advance as protesters break into Capitol Hill
- Treasury yields climb above 1% for first time since March
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U.S. stocks stabilized in the green, though remained well off session highs after protesters surged into the U.S. Capitol, forcing a lockdown that interrupted certification of the presidential election.
The S&P 500 trimmed its advance to 0.6% at the close of trading in New York, after rallying as much as 1.5% earlier Wednesday. Equities had been on track for a record, buoyed by speculation that a Democratic control of Congress could unleash a torrent of spending to revive growth. That sparked a reflation trade, with investors pouring into small caps and banks, companies that benefit from an economic rebound. Tech shares lagged behind.