Stocks slip for second day as COVID-19 surges

Stock markets on Tuesday opened down for a second-straight day as COVID-19 cases continued to surge nationwide and some states, like California, implemented stay-at-home orders.

The Dow Jones Industrial Average was down 38 points Tuesday morning, or 0.1 percent, leaving it just 30 points north of the 30,000 milestone it passed last month. The S&P 500 dipped 8 points, or 0.2 percent, and the Nasdaq composite fell 29 points, or 0.2 percent.

The downward trend continued despite further good news on the Pfizer COVID-19 vaccine, which the Food and Drug Administration said provided some protection after the first dose and worked well across race, age and weight groups.

The FDA is scheduled to hold a meeting on emergency use authorization for the drug on Thursday.

Meanwhile, Congress is expected to push its Thursday deadline for funding the government and potentially passing a $900 billion COVID-19 relief bill back by a week. It is expected to vote on a one-week extension measure on Wednesday.