Stocks ended another shaky day lower on Wall Street Wednesday after a highly anticipated report on inflation turned out to be even worse than expected.
The S&P 500, the Dow Jones Industrial Average and the Nasdaq fell. Stocks took a few U-turns through the day, as has become the norm on Wall Street this tumultuous year. They were following the lead of Treasury yields in the bond market, which initially surged on expectations the Federal Reserve will hike interest rates drastically to slow the nation’s skyrocketing inflation.
The S&P 500 fell 17.02 points, or 0.4%, to 3,801.78.
The Dow Jones Industrial Average fell 208.54 points, or 0.7%, to 30,772.79.
The Nasdaq fell 17.15 points, or 0.2%, to 11,247.58.
The Russell 2000 index of smaller companies fell 2.15 points, or 0.1%, to 1,726.04.
For the week:
The S&P 500 is down 97.60 points, or 2.5%.
The Dow is down 565.36 points, or 1.8%.
The Nasdaq is down 387.73 points, or 3.3%.
The Russell 2000 is down 43.33 points, or 2.4%.
For the year:
The S&P 500 is down 964.40 points, or 20.2%.
The Dow is down 5,565.51 points, or 15.3%.
The Nasdaq is down 4,397.39 points, or 28.1%.
The Russell 2000 is down 519.28 points, or 23.1%.