Stocks Close Near Session Lows as Nasdaq 100 Drops: Markets Wrap
- Powell says economy making real progress but disparities weigh
- Fed’s Williams: data ‘not nearly enough’ for policy move
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Stocks closed near Monday’s lows as giants Tesla Inc. and Amazon.com Inc. weighed on the Nasdaq 100. Traders also parsed economic data, with inflation remaining at the forefront of the investment debate. The dollar dropped, while Treasuries rose.
Tech and retail companies in the S&P 500 fell, while commodity and industrial shares gained. Pfizer Inc. climbed as the Biden administration will support its move to begin exporting U.S.-made doses of the coronavirus vaccine, while Moderna Inc. rallied after agreeing to provide as many as 500 million doses of its shot to the global program Covax. Estee Lauder Cos. sank as the cosmetics giant’s sales missed estimates.