Stocks closed lower on Wall Street after a wobbly day, giving back some of their big gains from a day earlier.
The S&P 500 lost 0.8% Tuesday after flipping between small gains and losses throughout the day. A day before, it leaped 2.4% for its best performance since June. For weeks, investors’ focus has been fixed on the bond market, where a swift recent rise in interest rates is threatening one of the main reasons for the stock market’s run to records through the pandemic.
The S&P 500 fell 31.53 points, or 0.8%, to 3,870.29.
The Dow Jones Industrial Average fell 143.99 points, or 0.5%, to 31,391.52.
The Nasdaq fell 230.04 points, or 1.7%, to 13,358.79.
The Russell 2000 index of smaller companies fell 43.81 points, or 1.9% to 2,231.51.
For the week:
The S&P 500 is up 59.14 points, or 1.6%.
The Dow is up 459.15 points, or 1.5%.
The Nasdaq is up 166.44 points, or 1.3%.
The Russell 2000 is up 30.46 points, or 1.4%.
For the year:
The S&P 500 is up 114.22 points, or 3%.
The Dow is up 785.04 points, or 2.6%.
The Nasdaq is up 470.51 points, or 3.7%.
The Russell 2000 is up 256.65 points, or 13%.