New York: Caution has returned to Wall Street as investors collected some profits after last week’s huge rally even as they find encouragement from President-elect Barack Obama’s calls for an economic stimulus package.
The Dow Jones industrials have closed down 81 points, or 0.91% at 8,952. Broader indexes ended with more modest declines.
The rally of the past three sessions made the pullback unsurprising. Investors are still wary amid so much economic uncertainty.
Monday has been the first real test of Wall Street in 2009 after the light holiday trading last week, which helped widen the price swings in the market.