"Market Rally Stalls, Investors Pause on Rate Cut Bets: Live Updates"

Stocks fell for a second consecutive day as the recent rally on Wall Street lost momentum. The Dow Jones Industrial Average and the S&P 500 both slipped, along with the Nasdaq Composite. GitLab saw an 8% increase in its stock price after beating quarterly financial expectations. The recent pullback in the market raises questions about whether stocks had risen too quickly. Despite the recent declines, the three major indexes are still up for the quarter and the year. The Russell 2000 also fell, erasing some gains from the previous day. Investors should expect a narrow trading range for stocks heading into 2024 due to elevated interest rates, a weakening consumer, and tempered earnings expectations. The Federal Reserve is currently in a "blackout period" ahead of its policy meeting next week.