U.S. equities fell slightly on Wednesday, with real estate lagging, as the Dow Jones industrial average failed to reach 20,000.
The Dow closed about 30 points lower, with Goldman Sachs contributing the most losses, leaving the index about 60 points below 20,000. The blue-chips index entered the session around 25 points away from hitting the milestone mark. During Tuesday's session, it briefly came within 13 points of reaching it.
"This is what you'd expect if we were approaching a real technical level. We come very close before breaking above it," said Randy Frederick, vice president of trading and derivatives at Charles Schwab, noting that 20,000 on the Dow is more of a psychological level.
Mike Bailey, director of research at FBB Capital Partners, said breaking above 20,000 "could generate a new wave of interest" from Main Street. "We focus more on the S&P, but the Dow is certainly the one that gets the most headlines."
The S&P 500 slipped around 0.25 percent lower, with real estate falling 1 percent, as a massive post-election rally took a breather. Since Nov. 8, the index has risen around 6 percent.
"Sentiment swung to the extreme optimism side. Usually, that signals a pullback," said Bob Phillips, managing principal at Spectrum Management Group.