Dow snaps 12-day win streak as Wall Street ends lower

S&P, Nasdaq also down after economy grows slower than expected

By Ovunc Kutlu

NEW YORK (AA) - Wall Street closed lower Tuesday as the economy grew less than expected in the fourth quarter.

The Dow fell 25 points to finish the day at 20,812, ending its 12-day winning streak.

The S&P lost six points to 2,363 and the Nasdaq was down 36 points to close at 5,825.

Economic growth remained unchanged at 1.9 percent, the Commerce Department said. Analysts expected a 2.1 percent expansion in the final quarter of 2016.

After growing 2.6 percent in 2015, the U.S. economy expanded just 1.6 percent last year -- its worst performance since 2011.

A speech by President Donald Trump to a joint session of Congress later Tuesday will be closely watched by markets as the commander-in-chief is expected to focus on a budget proposal that heavily favors an increase in military spending.

Kaynak:

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