U.S. stocks turned lower on the first trading day of the year, with investors hoping the rollout of coronavirus vaccines will help the economy slowly recover ground in the coming months.
Major indexes opened higher but wobbled shortly after the opening bell. The Dow Jones Industrial Average dropped 290 points, or 1%. The S&P 500 was down 0.6%, and the Nasdaq Composite fell 0.2%.
The Dow and S&P 500 closed at record levels Dec. 31.
Investors are starting the new year on an optimistic note. Although the novel coronavirus pandemic has continued to spread, with U.S. hospitalization rates climbing to a record high …
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