Stocks fell from their fresh intraday highs on Tuesday as market sentiment surrounding a larger round of direct coronavirus stimulus checks began to fade after Senate Majority Leader Mitch McConnell blocked the bill. The bill, calling to increase direct payments to individuals from $2,000 from $600, was passed by the House of Representatives late Monday. The market downturn snapped a three session winning streak for both the S&P 500 and Dow.

McConnell suggested on Tuesday that the Senate will consider the larger direct payments alongside other demands raised by President Donald Trump like removing the Section 230 liability shield for social media companies and increasing investigations into election security.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): -0.22% or -8.32 points to 3,727.04

Dow Jones Industrial Average (DIA  ): -0.22% or -68.30 points to 30,335.67

Nasdaq Composite Index (QQQ  ): -0.38% or -49.20 points to 12,859.22

For Stocks, Boeing (BA  ) shares rose after the first U.S. commercial flight of a 737 Max since the plane's worldwide grounding in March 2019 took off from Miami to New York via American Airlines (AAL  ) on Tuesday. Alibaba (BABA  ) gained after falling for multiple sessions after the People's Bank of China said fintech subsidiary Ant Group was drafting a plan to establish its own financial holding firm. Arcturus Therapeutics (ARCT  ) tanked over 50% after the biotech's Phase I/II clinical trial of its coronavirus vaccine candidate showed underwhelming efficacy results.

For Sector Performance, sectors on the S&P mostly slipping into negative territory on Tuesday as the broader market fell, with only Health Care (XLV  ) and Consumer DIscretionary (XLY  ) increasing. The biggest losers on Tuesday were Information Technology (XLK  ), Energy (XLE  ), Industrials (XLI  ) and Real Estate (XLRE  ), each falling over 0.50%.

For Commodities and Currency, the U.S. Dollar (UUP  ) was pressured lower on Tuesday as market participants were encouraged by Congress's progress towards additional stimulus payments and took more riskier bets during the low volume trading session. The dollar index, which tracks the greenback against other global currencies, fell 0.3% lower to 90.06. Gold (GLD  ) prices rose on a weaker dollar, with investors using the bullion as an inflation hedge. Spot gold rose 0.4% to $1,877.75 per ounce, while U.S. gold futures settled 0.1% higher at $1,882.80 per ounce. Crude oil futures also rose on increased stimulus payments optimism, with market participants betting that the additional aid will increase near-term fuel demand. International benchmark Brent Crude (BNO  ) climbed 0.6% to $51.16 per barrel, while domestic benchmark West Texas Intermediate (USO  ) rose 0.8% to $48.00 each.

For Wednesday, investors will continue to monitor news surround increases to individual direct stimulus checks as well as overall coronavirus headlines moving into the new year.