U.S. equity benchmarks on Wednesday traded slightly lower--but were mostly flat--as a fresh round of duties from the U.S. against Chinese imports gave investors reason to pause a multisession rally that has taken the S&P 500 within a hair's breadth of a record. The S&P 500 index SPX, +0.05% edged 0.1% lower to reach 2,855. Still, the broad-market stock benchmark is within 1% of its Jan. 16 record, and if it closes in the green for a fifth straight session it would represent the lengthiest string of gains since a six-session streak ended Feb. 16. The Nasdaq Composite Index COMP, +0.13% meanwhile, was off about 0.1% at 7,863, while the Dow Jones Industrial Average DJIA, -0.10% was down 17 points, or less than 0.1%, at 25,612. The Trump administration completed plans Tuesday to impose tariffs on an additional $16 billion of Chinese imports. The import duties, which were widely expected and would take effect Aug. 23, brings the total amount of Chinese goods covered by tariffs to $50 billion. In corporate news, the market watched shares of Tesla Inc. TSLA, -1.36% after the electric-car maker's board said it was considering taking the company private. Shares of the company surged 11% on Tuesday after CEO Elon Musk, via Twitter, said he was weighing a go-private transaction. Meanwhile, Shares of Walt Disney Co. DIS, -1.93% declined after the company released a disappointing earnings report Tuesday afternoon.
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