(CNBC) -- The S&P 500 erased most of its gains and closed little changed on Wednesday amid year-end profit-taking, while policy uncertainty as President Donald Trump picked fights with Congress weighed on market sentiment.
The broad equity benchmark rose less than 0.1%, or just 2.75 points, to 3,690.01 after climbing as much as 0.7% earlier in the day. The Dow Jones Industrial Average rose 114 points, or 0.38%, to 30,129.83. At its session high, the 30-stock benchmark gained 277 points. The Nasdaq Composite fell 0.3%, or 36.80 points, to 12,771.11 as tech heavyweights Amazon, Apple and Microsoft all dipped.
In an abrupt move, Trump on Tuesday night railed against the new Covid-19 relief package, a move that could delay the deployment of funds to struggling Americans. Meanwhile, Trump vetoed the sweeping defense bill that authorizes a topline of $740 billion in spending and outlines Pentagon policy.
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