U.S. stock benchmarks came off their intraday lows late-morning Tuesday, with Wall Street trading skittishly in the face of uncertainty around efforts to reform tax policy and a downturn in crude-oil futures.
The Dow Jones Industrial Average traded off 60 points, or 0.2%, to 23,383, but the blue-chip gauge had been down by as much as about 170 points. Declines in shares of Goldman Sachs Group Inc., Apple Inc Walt Disney Co. DIS, -1.06% and DowDuPont Inc were dragging the average lower.
The S&P 500 index fell 7 points, or 0.3%, at 2,577, with only the utilities and consumer-staples sector, considered defensive plays, trading higher. The sectors most tied to the crude market, energy and materials led losses, each down at least 1% as the International Energy Agency said the oil-price rally may be ephemeral.
Meanwhile, the Nasdaq Composite Index dipped 20 points, 3%, to 6,735.