U.S. stocks fell on worries that what seemed like a blip in the battle to bring down inflation is turning into a trend.
The S&P 500 lost 0.9 percent Wednesday. The Dow Jones Industrial Average gave back 1.1 percent, and the Nasdaq composite fell 0.8 percent.
Treasury yields also leaped in the bond market, raising the pressure on the stock market. Traders pulled back on bets for coming cuts to interest rates by the Federal Reserve following a third straight inflation report that came in hotter than expected. The yield on the 10-year Treasury jumped to 4.55 percent.
On Wednesday:
The S&P 500 fell 49.27 points, or 0.9 percent, to 5,160.64.
The Dow Jones Industrial Average fell 422.16 points, or 1.1 percent, to 38,461.51.
The Nasdaq composite fell 136.28 points, or 0.8 percent, to 16,170.36.
The Russell 2000 index of smaller companies fell 52.41 points, or 2.5 percent, to 2,028.39.
For the week:
The S&P 500 is down 43.70 points, or 0.8 percent.
The Dow is down 442.53 points, or 1.1 percent.
The Nasdaq is down 78.16 points, or 0.5 percent.
The Russell 2000 is down 35.08 points, or 1.7 percent.
For the year:
The S&P 500 is up 390.81 points, or 8.2 percent.
The Dow is up 771.97 points, or 2 percent.
The Nasdaq is up 1,159.01 points, or 7.7 percent.
The Russell 2000 is up 1.32 points, or 0.1 percent.
The Epoch Times copyright © 2024. The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.
