The S&P 500, which ended 2020 at an all-time high, slid 1.5% after earlier dropping as much as 2.5%. Technology companies accounted for a big share of the sell-off, along with industrial, communication services, health care and other stocks. The worsening numbers also raise the possibility that Wall Street has been overly optimistic about the big economic recovery it sees coming because of COVID-19 vaccines. Tuesday's upcoming runoff elections to determine which party controls the Senate may also be contributing to the volatility. “We’ve got a wobbly start to the year here,” said Lindsey Bell, chief investment strategist at Ally Invest.

Source: Daily Sun January 04, 2021 15:54 UTC