Wall Street Down As Its Red-Hot Rally Cools

U.S. stocks are slipping on Wednesday as Wall Street’s record-breaking rally cools down, Stan Choe and Zimo Zhong reported for the Associated Press (AP).

The Dow Jones Industrial Average fell by 202 points, or 0.5%, as of 10:15 a.m. Eastern time, while the Nasdaq Composite was down 0.8%.

The S&P 500 was down by 0.4% in morning trading, following two small losses after hitting an all-time high on Friday. It is on track for its first three-day losing streak since early September.

However, the pullback is modest and comes after a strong rally where the index rose for six straight weeks, marking its longest winning streak of the year.

The Dow Jones Industrial Average fell by 202 points, or 0.5%, as of 10:15 a.m. Eastern time, while the Nasdaq Composite was down 0.8%.

McDonald’s contributed to the market's downturn, dropping 5.3% after federal health officials linked its Quarter Pounder burgers to an E. coli outbreak that has sickened at least 49 people across 10 states. Investigators are still trying to determine which specific ingredient is contaminated.

The CDC reported that McDonald’s has stopped using fresh slivered onions and Quarter Pounder beef patties in several states while the investigation continues.