U.S. equity markets turned lower Tuesday morning as investors assessed major gains the day before and waited for economic updates from top government officials.

U.S. equity markets turned lower Tuesday morning as investors assessed major gains on Monday and waited for economic updates from top government officials. The Dow Jones Industrial Average fell 77 points, or 0.31 percent, while the S&P 500 dropped 0.29 percent. The tech-heavy Nasdaq Composite gained 0.07 percent. The major averages all gained at least 2.4 percent on Monday amid progress toward a COVID-19 vaccine. Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin will testify in front of the Senate Banking, Housing and Urban Affairs Committee Tuesday over the steps taken to support the economy amid the pandemic, which forced lockdowns across much of the U.S.

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