Wall St drops after the record highs of earlier in the week

Wall Street has reversed early gains, backing down from the previous session’s record closing highs, while crude oil gained ground as investors looked to Washington for signs that an enhanced stimulus package would pass a senate vote.

All three major US stock indexes oscillated amid light trading volume, but were most recently lower as market participants balanced near-term challenges with longer-term hopes for economic recovery and a return to healthy demand.

“The plan that was originally signed is baked in,” Joseph Sroka, chief investment officer at NovaPoint said.