The Upward Surge on Wall Street Comes to an End After 5 Days

Forext - Stocks on Wall Street ended the rally that began after Trump's electoral victory. The S&P 500 turned lower following its biggest five-day gain in a year.

After significant gains post-election, small-cap companies and banks lost value. The Dow Jones Industrial Average and other major indices slipped yesterday as the post-election rally took a breather due to low volume. Small caps experienced the largest losses in the market today, erasing significant gains from the previous session.

The Dow closed down approximately 0.86% or 382 points, finishing at 43,910.98. Meanwhile, the tech-heavy Nasdaq marginally declined by less than 0.1%, ending the day at 19,281.40. The benchmark S&P 500 decreased by 0.1%, closing at 5,983.990.

Finally, the small-cap Russell 2000 fell by 1.8%, giving back all of Monday's gains plus more, finishing slightly below Friday's close. Tesla dropped after nearly a 45% surge.

The decline on Wall Street was influenced by messages indicating that the Fed would slow its pace of interest rate cuts, a strengthening of the U.S. dollar, and increasing interest in cryptocurrencies.