Wah! We'll never get to Dow 20K (seems like)
NEW YORK — Stocks are falling Wednesday as the Dow puts more distance between the blue chips and that elusive 20,000 mark.
Dow 20,000 has been in sight for several days now, with the index getting as close as a couple of dozen points from the milestone but never reaching it.
As of 12:50 p.m. ET, the Dow was down 0.4% for the day, off 89 points and 144 away from 20,000. At least it didn’t sink as much as the Nasdaq, down 0.7%, or the S&P 500, off 0.8%.
The broad decline wiped out most of the gains from the day before, when the Nasdaq composite index closed at a record high.
Trading was quiet in a light week of economic and company news before the New Year’s Day holiday weekend.
Qualcomm slipped 1.8% after antitrust regulators in South Korea fined the company $865 million, claiming the chipmaker engaged in unfair sales practices.
Oil on the U.S. market is up about 0.3% to $54.07 a barrel.
The yield on the 10-year Treasury note slipped to 2.55%.