Midday Market Update

Markets Slump to Commence Inauguration Week

Milad Nourmohammadi

U.S. Markets
The post-election rally that has occurred since November seems to be slowing down as President-elect Donald Trump's inauguration approaches.

All three of the primary U.S. benchmarks were down after Tuesday's opening bell as financials and healthcare stocks led losses for the S&P 500, and falling biotechnology stocks contributed to the slumps seen in the Nasdaq Composite. The U.S. dollar also dropped sharply after The Wall Street Journal published an interview on Friday in which Trump stated that the currency was "too strong."

Milad Nourmohammadi does not own shares in any of the securities mentioned above. Find out about Morningstar's editorial policies.