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How major US stock indexes fared Wednesday 2/22/2023

Stocks ended mixed a day after falling to their worst loss since December, as Wall Street prepares for interest rates to stay higher for longer.

The S&P 500 dipped 0.2% Wednesday after drifting between small gains and losses. The Dow fell and the Nasdaq rose.

Treasury yields pulled back a bit after their surge the prior day. Yields have shot higher this month on expectations the Federal Reserve will be more aggressive on interest rates than markets had expected to drive down inflation. Minutes from the Fed’s last meeting showed policy makers still think inflation is too high despite a recent cooldown.

On Wednesday:

The S&P 500 fell 6.29 points, or 0.2%, to 3,991.05.

The Dow Jones Industrial Average fell 84.50 points, or 0.3%, to 33,045.09.

The Nasdaq composite rose 14.77 points, or 0.1%, to 11,507.07.

The Russell 2000 index of smaller companies rose 6.46 points, or 0.3%, to 1,894.67.

For the week:

The S&P 500 is down 88.04 points, or 2.2%.

The Dow is down 781.60 points, or 2.3%.

The Nasdaq is down 280.20 points, or 2.4%.

The Russell 2000 is down 51.68 points, or 2.7%.

For the year:

The S&P 500 is up 151.55 points, or 3.9%.

The Dow is down 102.16 points, or 0.3%.

The Nasdaq is up 1,040.59 points, or 9.9%.

The Russell 2000 is up 133.43 points, or 7.6%.