(CNBC) — Stocks gave up most of their sharp gains from earlier in Tuesday’s session as Wall Street assessed the coronavirus outbreak and whether it is improving.
The Dow Jones Industrial Average traded just below the flatline with less than one hour left in the session. At its session high, the 30-stock average was up more than 900 points. The S&P 500 and Nasdaq Composite also wavered, hovering around the flatline.
Some investors believed after a 20%-plus rally by major averages from the market’s low two weeks ago that maybe stock prices were getting ahead of the reality where coronavirus shutdowns are likely to weigh on the economy significantly beyond the second quarter.
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