Stocks were closing mostly lower on Wall Street Monday, taking a pause from their recent rally. The S&P 500 lost 0.2%. Companies that would benefit most from a reopening economy, like banks and indsutrial stocks, took some of the sharper losses.
Technology stocks, meanwhile, bucked the downward trend and rose, pushing the Nasdaq to another record high. It’s a flip of the market’s recent momentum and a callback to how it was trading earlier this year, before enthusiasm burst higher that one or more COVID-19 vaccines will get the global economy closer to normal next year. Treasury yields fell.
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