NEW YORK (AP) — U.S. stocks are slipping as Wall Street’s big rally lets off the accelerator. The S&P 500 dipped 0.2% Monday. The Dow Jones Industrial Average fell 169 points, and the Nasdaq composite eased back by 0.1%. It’s only a modest pullback when compared with the surge that stocks have enjoyed hitting a bottom in April, and all three indexes are still near their records set on Friday. Some of the strongest action was among companies announcing purchases of each other. Pfizer said it would buy Metsera and its pipeline of potential obesity treatments in a deal with an initial price tag of $4.9 billion.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. ×

This page requires Javascript.

Javascript is required for you to be able to read premium content. Please enable

See Full Page