U.S. stocks closed slightly lower Tuesday, changing direction in the final hour of trading of the second session of a holiday-shortened week.
The blue-chip S&P 500 fell 0.3%, while the tech-heavy Nasdaq fell 0.4%.
Tuesday’s decline is unlikely to represent a long-term trend for stocks, analysts said, as both indexes have been rising since the Federal Reserve meeting last week.
At that meeting, officials kept their interest rate cut forecasts stable, even as they bet that inflation would be higher than previously forecast.
Thursday will be the last trading day of the quarter, before which traders often rebalance portfolios.