U.S. stocks opened lower on Wednesday, a day after the Dow Jones Industrial Average and the Nasdaq Composite Index posted their largest one-day losses since September. The S&P 500 index
shed 1 point, or 0.1%, to 2,342, while the Dow
slipped 36 points, or 0.2%, to 20,628. The Nasdaq
fell 3 points, or 0.1%, to 5,790. Market strategists attributed the drop to signs that President Donald Trump and his allies in Congress might take longer to implement a slate of promised fiscal-stimulus measures than previously believed. The Republican plan for repealing and replacing Obamacare has been met with resistance from some conservative lawmakers, raising concerns that the House bill might not pass when it comes up for a vote on Thursday. In individual stock trading, Sears Holdings Corp.
shares plummeted after the struggling retailer warned that the company could cease operations if its turnaround plan fails. Bank stocks struggled, with shares of Bank of America Corp.
Wells Fargo & Co.
J.P. Morgan Chase & Co.
and Goldman Sachs Group Inc.
all moving lower.