Stocks closed lower on Wall Street Wednesday as negotiations continue to drag on in Washington over delivering more aid for the economy.
House Speaker Nancy Pelosi said she’s made progress with the White House on more economic stimulus, and she hopes discussions will continue. Even if they reach a compromise, it may face stiff resistance in the Senate.
Losses in industrial stocks, health care companies and elsewhere in the market outweighed solid gains by communication services stocks.
The S&P 500 index is now on track for its first weekly loss after notching gains in each of the past three weeks.
The S&P 500 fell 7.56 points, or 0.2%, to 3,435.56.
The Dow Jones Industrial Average lost 97.97 points, or 0.4%, to 28,210.82.
The Nasdaq composite gave up 31.80 points, or 0.3%, to 11,484.69.
The Russell 2000 index of small-cap stocks dropped 13.93 points, or 0.9%, to 1,603.78.
For the week:
The S&P 500 is down 48.25 points, or 1.4%.
The Dow is down 395.49 points, or 1.4%.
The Nasdaq is down 186.86 points, or 1.6%.
The Russell 2000 is down 30.03 points, or 1.8%.
For the year:
The S&P 500 is up 204.78 points, or 6.3%.
The Dow is down 327.62 points, or 1.1%.
The Nasdaq is up 2,512.09 points, or 28%.
The Russell 2000 is down 64.69 points, or 3.9%.