The stock market’s fantastic start to 2018 stalled on Wednesday after real-estate companies and other dividend payers sank on concerns about rising interest rates.
The losses knocked indexes a bit off their record highs and provided the first minor hiccup for a market that had climbed six straight days to start the year. Stocks fell after the yield on the 10-year Treasury reached its highest level since March, but they ended up recovering most of their losses as the day progressed and rates pulled back.
The Standard & Poor’s 500 index fell 3.06 points, or 0.1 percent, to 2,748.23.
The Dow Jones industrial average dropped 16.67, or 0.1 percent, to 25,369.13.
The Nasdaq composite fell 10.01, or 0.1 percent, to 7,153.57.
The Russell 2000 index of smaller-company stocks slipped 0.30 points, or less than 0.1 percent, to 1,559.80.
For the week:
The S&P 500 is up 5.08 points, or 0.2 percent.
The Dow is up 73.26 points, or 0.3 percent.
The Nasdaq is up 17.01 points, or 0.2 percent.
The Russell 2000 is down 0.21 points, or less than 0.1 percent.
For the year:
The S&P 500 is up 74.62 points, or 2.8 percent.
The Dow is up 649.91 points, or 2.6 percent.
The Nasdaq is up 250.18 points, or 3.6 percent.
The Russell 2000 is up 24.29 points, or 1.6 percent.