Dow Jones posts modest loss ending a four-day winning streak

The Dow Jones Industrial Average on Tuesday dropped 32.23 points bringing an end to its winning streak that lasted four consecutive days. The S&P 500 and the Nasdaq declined 0.5 percent and 1.4 percent respectively.

As states begin the process of reopening, there is optimism that the nation will soon emerge from the coronavirus crisis and resume more normal activity. Still, tech stocks fell on Tuesday with companies like Amazon, Alphabet, Netflix and Facebook declining. But while Alphabet stock fell, shares increased in extended trading once the company revealed its first-quarter earnings. 

Many businesses have been hit hard by the coronavirus crisis, and more than 26 million people have filed for unemployment over a five-week period. 

Last week, Congress approved additional funding to replenish the completely depleted Paycheck Protection Program meant to buoy small businesses amid the pandemic, but some bankers on Monday became frustrated as they experienced technical problems with the program's online application portal. 

New York has been the state hit hardest by the virus. Gov. Andrew Cuomo on Tuesday reported 335 coronavirus deaths in roughly the past 24 hours. That number is down slightly from the 337 deaths on April 26. 

The number of confirmed coronavirus cases in the U.S. has surpassed 1 million, while the number globally now exceeds 3 million, according to Johns Hopkins University.