US STOCKS-Wall St falls from latest records; auto sales soft
(Updates to afternoon)
* Auto sales fall short of expectations
* Indexes off: Dow 0.71 pct, S&P 0.77 pct, Nasdaq 0.94 pct
By Sinead Carew
NEW YORK, March 3 (Reuters) - U.S. stocks fell on Tuesday after a weak auto sales report pulled the Dow and S&P back from their latest records and the Nasdaq dipped below 5,000 the day after scaling the milestone level for the first time in 15 years.
Investors exercised caution after a strong run for major indexes in February and ahead of a slew of economic data later this week, culminating with the monthly payrolls report.
For the second year in a row, tough winter weather slowed U.S. vehicle sales in February, with several major automakers missing analysts' projections and dampening bullish expectations.
"The air gets a little thin up at new highs and you need a driver to keep it going, and one of the things we are not getting as a driver today is solid auto sales," said Art Hogan, chief market strategist at Wunderlich Securities in New York.
U.S.-listed Fiat Chrysler shares fell 3.7 percent to $15.24 while Ford Motor declined 2.8 percent to $16.10. General Motors managed dropped 0.23 percent to $37.51. Continuación...