Stocks pull back, bringing the Dow Jones industrial average back near 17,000; Airlines fall
7/7/2014NEW YORK — U.S. stocks are closing slightly lower today after hitting their latest record highs last week.
The Dow Jones industrial average fell 44 points, or 0.3 percent, to close at 17,024. It closed above 17,000 for the first time Thursday. The markets were closed Friday.
The Standard & Poor’s 500 slipped seven points, or 0.4 percent, to 1,977. The Nasdaq fell 34 points, or 0.8 percent, to 4,451.
Trading was quiet as investors returned from the Independence Day holiday in the United States.
Investors were making moves to decrease their exposure to risk. Small-company stocks fell more than the rest of the market, and investors parked money in safe-play stocks like utilities and phone companies.
Delta and other airline stocks fell after the Transportation Security Administration announced new security measures that would impact international flights into the United States.