NEW YORK (Pakistan Point News / Sputnik - 31st December, 2021) US stocks fell modestly but broadly on Thursday, bucking hopes for a restart of the so-called "Santa Claus rally," which emerged briefly just before and after Christmas this year.
Prior to Tuesday, the three main equity indexes on the New York Stock Exchange rose with noticeable vigor for four straight days, prompting many to think the market will benefit handsomely from the Santa Claus rally that typically starts at around Christmas and lasts through the year-end.
The past three days, however, shattered that hope, with the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite indexes showing mixed results after last week's promising start.
In Thursday's session, the blue-chip Dow, which lists a wide variety of stocks from leisure to banking and agriculture, slid 0.3% to settle at 36,398. For the year, the Dow is up 18%.
The S&P 500, which lists the top 500 US stocks, closed the day down 0.3% at 4,780.� For the year, the S&P 500 remains up 27%.
Nasdaq, which groups major technology Names such as Facebook, Apple, Amazon, Netflix and Google, slid 0.2% to finish at 15,742. Year-to-date, however, the Nasdaq is up 22%.
