“It hasn’t been a sharp market drop. There have been buyers coming in as well. This is a bit shocking visually to see this unfold on television,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.
The Dow and the S&P 500 ended higher, soaring to all-time highs on Wednesday, as investors piled into financial and industrial stocks on bets a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending.
But Wall Street pared earlier gains and the Nasdaq index closed lower after swarms of protesters stormed the U.S. Capitol on Wednesday as they sought to force Congress to undo President Donald Trump’s election loss to Joe Biden. Lawmakers evacuated after Trump supporters breached the building as police officers stood watch. Some police responded with drawn guns and tear gas.
