Image: Drew Angerer / Getty Images

The Dow, Nasdaq and S&P 500 all closed lower on Tuesday, despite setting record highs earlier in the session.

Here's where they closed:

  • Dow Jones: 25,792.86 (-0.04%)
  • Nasdaq: 7,224.00 (-0.51%)
  • S&P: 2,776.42 (-0.35%)

Why it matters: The Dow briefly traded above 26,000 for the first time, the fastest 1,000 point rise in index history, before falling back down to Earth. Analysts say investors are likely weighing the possibility of a government shutdown, which has historically caused the market to drop, according to CNBC.

Go deeper

Updated 12 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Biden ahead in Wisconsin, Michigan as cases surge in the Midwest.
  2. Health: Surge "is real" and not just caused by more tests, Trump's testing czar saysMask mandates help control rise in hospitalizations Some coronavirus survivors have "autoantibodies."
  3. Business: Surge is sinking consumer confidence Testing is a windfall.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. World: Germany to close bars and restaurants for a month Putin mandates face masks.

Parties trade election influence accusations at Big Tech hearing

Photo: Michael Reynolds/Pool/AFP via Getty Images

A Senate hearing Wednesday with Big Tech CEOs became the backdrop for Democrats and Republicans to swap accusations of inappropriate electioneering.

Why it matters: Once staid tech policy debates are quickly becoming a major focal point of American culture and political wars, as both parties fret about the impact of massive social networks being the new public square.

2 hours ago - World

Germany goes back into lockdown

Photo: Fabrizio Bensch/Pool/AFP via Getty Images

German Chancellor Angela Merkel will enact one of Europe's strictest coronavirus lockdowns since spring, closing bars and restaurants nationwide for most of November, Reuters reports.

Why it matters: Germany is the latest European country to reimpose some form of lockdown measures amid a surge in cases across the continent.