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Wall Street Winning Streak Ends as Risk Aversion Resurfaces With Saudi Purge, Tax Reform Debate

The Dow Jones Industrial Average and S&P 500 were set to close in the red for the first time in six days as the continued Saudi purge and tax reform debate soured investors' appetite for risk.

The financial sector took the brunt of Tuesday's selling pressure while defensive sectors like utilities outperformed. Shares of Goldman Sachs ( GS ) and JP Morgan ( JPM ) were the Dow's biggest losers, followed by heavy losses in consumer stocks like Nike ( NKE ) and Home Depot ( HD ). The Nasdaq was weighed down by losses in Priceline ( PCLN ) and Tripadvisor (TRIP) after both reported disappointing quarterly results.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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