The stock market slipped on Friday to close out a holiday-shortened week, erasing this year’s Santa Claus rally so far.
The Dow Jones Industrial Average dropped 334 points, or 0.8%. The S&P 500 slipped 1.1%. The Nasdaq Composite dropped 1.5%. Though all three closed higher on the week, they’ve been trading sideways since Monday’s close.
Tuesday’s session marked the start of the Santa Claus rally window—the seven-trading-day period that ends with the second trading day of a new year. So far things have been mixed for the major indexes, despite a strong start on Tuesday.
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