U.S. Stocks Fall Modestly After Big Back-to-back Gains

NEW YORK, Oct. 5 (UrduPoint / Pakistan Point News - 6th Oct, 2022 ) --:U.S. stocks fell modestly on Wednesday after two days of pronounced gains.

The Dow Jones Industrial Average decreased 42.45 points, or 0.14 percent, to 30,273.87. The S&P 500 declined 7.65 points, or 0.20 percent, to 3,783.28. The Nasdaq Composite Index slipped 27.77 points, or 0.25 percent, to 11,148.64.

Eight of the 11 Primary S&P 500 sectors ended in red, with utilities and real estate down 2.25 percent and 1.9 percent, respectively, leading the laggards. Energy rose 2.06 percent, the best-performing group.

The above market moves followed a strong two-day run on Wall Street that saw the Dow rally more than 1,500 points over the previous two sessions, supported by market hopes that the Federal Reserve could pivot to a less aggressive stance sooner than expected.