Wall Street’s September swoon accelerated, knocking stocks down to their lowest levels since June.
The S&P 500 fell 1.5 percent Tuesday, its fifth drop in six days. The Dow lost 388 points and the Nasdaq composite gave back 1.6 percent.
Stocks have tumbled this month, which is on track to be their worst of the year, as the realization sets in that the Federal Reserve will keep interest rates high for a long time as it tries to get inflation lower. Treasury yields inched higher following a mixed set of economic reports and are near their highest levels in more than a decade.
On Tuesday:
The S&P 500 fell 63.91 points, or 1.5 percent, to 4,273.53.
The Dow Jones Industrial Average fell 388 points, or 1.1 percent, to 33,618.88.
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The Nasdaq composite fell 207.71 points, or 1.6 percent, to 13,063.61.
The Russell 2000 index of smaller companies fell 22.63 points, or 1.3 percent to 1,761.61.
For the week:
The S&P 500 is down 46.53 points, or 1.1 percent.
The Dow is down 344.96 points, or 1 percent.
The Nasdaq is down 148.20 points, or 1.1 percent.
The Russell 2000 is down 14.89 points, or 0.8 percent.
For the year:
The S&P 500 is up 434.03 points, or 11.3 percent.
The Dow is up 471.63 points, or 1.4 percent.
The Nasdaq is up 2,597.13 points, or 24.8 percent.
The Russell 2000 is up 0.36 points, or less than 0.1 percent.
