NEW YORK — Most U.S. stocks are slipping in early trading on Tuesday, giving back some of their big gains from the past couple weeks.
The S&P 500 was 0.3% lower, as of 9:50 a.m. Eastern time. Stocks were down even more in France, Germany and elsewhere after the European Union’s executive arm said this year’s recession caused by the coronavirus pandemic will be deeper than forecast. It also said next year’s expected rebound could be weaker than expected.
The Dow Jones Industrial Average was down 219 points, or 0.8%, at 26,067, and stocks in Asia also fell following the big rally that swept markets worldwide on Monday.