Stocks closed broadly lower on Wall Street, capping a day of declines worldwide, after discouraging data on China raised worries about the global economy.
The S&P 500 fell 1.2 percent Tuesday after reports indicated a deepening slump for the world’s second-largest economy. The Dow dropped roughly 361 points, and the Nasdaq sank 1.1 percent.
A separate report on the U.S. economy showed sales growth at retailers accelerated last month. That raises hopes the U.S. economy can avoid a recession. But in a downside for markets, it also heightens the threat that the Federal Reserve will keep interest rates high for longer to snuff out inflation.
On Tuesday:
The S&P 500 fell 51.86 points, or 1.2 percent, to 4,437.86.
The Dow Jones Industrial Average fell 361.24 points, or 1 percent, to 34,946.39.
The Nasdaq composite fell 157.28 points, or 1.1 percent, to 13,631.05.
The Russell 2000 index of smaller companies fell 24.74 points, or 1.3 percent, to 1,895.75.
For the week:
The S&P 500 is down 26.19 points, or 0.6 percent.
The Dow is down 335.01 points, or 1 percent.
The Nasdaq is down 13.80 points, or 0.1 percent.
The Russell 2000 is down 29.36 points, or 1.5 percent.
For the year:
The S&P 500 is up 598.36 points, or 15.6 percent.
The Dow is up 1,799.14 points, or 5.4 percent.
The Nasdaq is up 3,164.56 points, or 30.2 percent.
The Russell 2000 is up 134.51 points, or 7.6 percent.
