Stocks closed slightly lower on Wall Street Wednesday after an early rally fueled by optimism over the next round of trade talks between the U.S. and China lost momentum toward the end of the day.
Stocks rose early after comments from Treasury Secretary Steven Mnuchin raised hopes for a U.S.-China trade deal. Losses in health care stocks, consumer goods makers and utilities offset solid gains in technology sector companies.
The S&P 500 index dropped 3.60 points, or 0.1%, to 2,913.78.
The Dow Jones Industrial Average fell 11.40 points, or 0.04%, to 26,536.82.