NEW YORK (Reuters) – The Nasdaq closed 1.4% lower and the S&P dipped slightly on Tuesday as investors sold off technology stocks that benefited from virus lockdowns, favoring sectors that have suffered most during the pandemic instead on hopes a COVID-19 vaccine will turn the economy around.
The heavyweight technology <.SPLRCT> and consumer discretionary sectors <.SPLRCD> fell sharply and communication services <.SPLRCL> languished while investors favored small caps and economically sensitive energy <.SPNY> and industrials <.SPLRCI> sectors as well as value stocks in consumer staples <.SPLRCS>.
The main U.S. indexes had hit intraday peaks on Monday after Pfizer Inc
