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US: Dow on track for fourth straight day of losses

Wednesday, January 18, 2017 - 23:18

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[WASHINGTON ] The Dow Jones Industrial Average was lower for the fourth straight trading day on Wednesday, while the S&P 500 and the Nasdaq were little changed, ahead of Federal Reserve Chair Janet Yellen's speech.

Investors are also awaiting President-elect Donald Trump's inaugural speech on Friday to gain more insight into his plans for the US economy.

The Trump rally, which drove Wall Street to record highs, has been showing signs of fatigue since the start of the year as investors get increasingly nervous about his unconventional approach to trade and politics. "There is a lot of uncertainty hovering over the market, regarding what policies will be implemented," said Quincy Krosby, market strategist at Prudential Financial. "But the market appears to be giving the President-elect the benefit of the doubt."

At 9.45 am ET the Dow Jones industrial average was down 41.37 points, or 0.21 per cent, at 19,785.4. The S&P 500 was down 0.27 points, or 0.01 per cent, at 2,267.62, while the Nasdaq Composite was up 7.16 points, or 0.13 per cent, at 5,545.89.

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