Stocks fell again as Wall Street’s slow start to 2024 carried into a second day.
The S&P 500 lost 0.8 percent Wednesday, though it remains within 2 percent of its record. The Dow Jones Industrial Average fell 0.8 percent, and the Nasdaq composite sank 1.2 percent. Some of last year’s biggest winners again weakened, and Tesla fell 4 percent.
Treasury yields largely eased after reports showed a slowing economy, which economists hope will keep a lid on inflation but stop short of a recession. The minutes from the Federal Reserve’s latest meeting indicated rate cuts are likely this year but called the outlook unusually uncertain.
On Wednesday:
The S&P 500 fell 38.02 points, or 0.8 percent, to 4,704.81
The Dow Jones Industrial Average fell 284.85 points, or 0.8 percent, to 37,430.19.
The Nasdaq composite fell 173.73 points, or 1.2 percent, to 14,592.21.
The Russell 2000 index of smaller companies fell 53.59 points, or 2.7 percent, to 1,959.20.
For the week:
The S&P 500 is down 65.02 points, or 1.4 percent.
The Dow is down 259.35 points, or 0.7 percent.
The Nasdaq is down 419.14 points, or 2.8 percent.
The Russell 2000 is down 67.87 points, or 3.3 percent.
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