New york: US stocks closed lower as early session gains faded. The S and P 500 index fell by 45.09 points, or 0.63 percent, to 7,064.05 points, while the Nasdaq Composite declined by 0.59 percent, or 144.08 points, to close at 24,260.31 points. The Dow Jones Industrial Average dropped by 292.59 points, or 0.59 percent, ending trading at 49,148.64 points.
According to Emirates News Agency, the decline came after an initial positive start to the trading session, which ultimately did not sustain throughout the day. Analysts cited a mix of profit-taking and concerns over upcoming economic data releases as factors contributing to the late-session downturn. As investors await further economic indicators, market volatility is expected to persist in the coming days.