Wall St retreats from record high

Dow tops 16,000 for first time ever, S&P climbs above 1,800 for first time as US stocks extend recent record run.

United States stocks reversed earlier gains that had taken the Dow and S&P to fresh record highs, absorbing late-session losses that brought US markets into negative territory.

Earlier in the session, the Dow Jones Industrial Average topped 16,000 for the first time, extending a rally fuelled by the combination of steady economic growth and central-bank stimulus.

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