Wall Street Falters As U.S. Senate Delays Health Vote

The benchmark S&P 500 posted its biggest one-day drop in about six weeks and closed at its lowest point since May 31.

Major indexes extended losses after US Senate Republican leader Mitch McConnell decided to put off a planned vote on a bill to dismantle the Affordable Care Act until after the Senate's July 4 recess.

The healthcare legislation, which has encountered resistance from several Republicans, is the first plank of Trump's domestic policy agenda, with investors eager for him to move onto his other plans including tax cuts, infrastructure spending and deregulation.

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