Wall Street Edges Down as Bank Shares Weigh

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Wall Street ended slightly lower on Thursday, held down by bank shares in quiet holiday trading as traders looked to position for the new year. US equities have stalled in recent days after rallying in the wake of Donald Trump's November 8 election as US president. Investors are betting on benefits from Trump's plans to cut taxes and regulations and introduce fresh economic stimulus.

The post-election surge has put the benchmark S&P 500 on pace for a roughly 10-percent gain for the year, but has left some market participants nervous about a potential correction. "We ran out of steam after the election rally.

Now the market is at fair value and now it is: 'What is going to come next?'" said Scott Wren, senior global equity strategist at Wells Fargo Investment Institute in St. Louis. The Dow Jones Industrial Average fell 13.9 points, or 0.07 percent, to 19,819.78, the S&P 500 lost 0.66 points, or 0.03 percent, to 2,249.26 and the Nasdaq Composite dropped 6.47 points, or 0.12 percent, to 5,432.09. 

The Dow has yet to breach the 20,000 mark after repeatedly coming within 20 points of the milestone.

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