Stocks Slide on Wall Street as Inflation Worries Persist

The sign for Wall Street with U.S. flags outside the New York Stock Exchange in New York on June 16, 2022. Yuki Iwamura/AFP via Getty Images

Stocks closed broadly lower on Wall Street Tuesday, after a discouraging snapshot of U.S. consumer confidence stoked investors’ worries about the risk that sharply higher interest rates and pervasive inflation could trigger a recession.

The S&P 500 ended 2 percent lower, reversing a 1.2 percent gain from earlier in the day. The Dow Jones Industrial Average fell 1.6 percent and the Nasdaq composite ended 3 percent lower.