Stocks fell on Wall Street’s first trading day of 2023 after closing out its worst year since 2008.
The S&P 500 index fell 0.4% Tuesday. The Dow Jones Industrial Average and the Nasdaq also closed lower.
Investors will be closely watching moves by central banks in coming months to fight inflation with higher interest rates, all the while bracing for the recession and higher unemployment that could result from those policies. This week markets are looking ahead to a monthly report on the U.S. job market that could provide clues on where the economy is headed.
The S&P 500 fell 15.36 points, or 0.4%, to 3,824.14.
The Dow Jones Industrial Average fell 10.88 points, or less than 0.1%, to 33,136.37.
The Nasdaq fell 79.50 points, or 0.8%, to 10,386.98.
The Russell 2000 index of smaller companies fell 10.51 points, or 0.6%, to 1,750.73.