Markets Right Now: Stocks mostly recoup midday losses
The latest on developments in financial markets (All times local):
4 p.m.
Stocks are closing modestly lower, having recouped much of a steep loss from earlier in the day after a former adviser to the White House pleaded guilty to lying to the FBI.
News that former national security adviser Michael Flynn would cooperate with the probe into Russian meddling in the U.S. presidential election initially sent the market stumbling, but investors were encouraged after Senate Republicans signaled they have enough votes to push forward on a tax overhaul bill.
Technology and industrial stocks accounted for much of the decline. Energy companies led the gainers.
The Standard & Poor's 500 index 5 points, or 0.2 percent, to 2,641.