World shares were lower in quiet New Year's Eve trading on Tuesday, with many markets closed. The declines tracked a broad retreat overnight on Wall Street that erased some of the major U.S. indexes' recent gains.
Last Updated Tuesday, December 31, 2019 3:58AM ESTTOKYO -- World shares were lower in quiet New Year's Eve trading on Tuesday, with many markets closed. The declines tracked a broad retreat overnight on Wall Street that erased some of the major U.S. indexes' recent gains, though the market remains on track to end the year with its best performance since 2013.
Many markets, including those in Tokyo and Seoul, have already ended trading for 2019. Markets will be closed on Wednesday. Technology, communication services and health care stocks accounted for much of the selling Monday. Retailers and other companies that rely on consumer spending also fell. The S&P 500 dropped 0.6% to 3,221.29. The Dow Jones Industrial Average fell 0.6% to 28,462.14. The Nasdaq composite lost 0.7%, to 8,945.99, while the Russell 2000 index of smaller company stocks slid 0.3%, to 1,664.15.Despite the downbeat start to the holiday shortened week, the S&P 500 is on pace to finish the year 28.5% higher, which would make it the strongest annual gain for the market since 2013.
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