Stocks closed lower on Wall Street Wednesday, extending the market’s losses from a day earlier, as talks dragged on in Washington over another economic stimulus package.
Companies that rely on consumer spending, banks and technology and communication stocks bore the brunt of the selling.
Investors weighed a batch of earnings reports from companies, including several big banks. Bank of America and Wells Fargo fell following the release of their reports, posting the biggest losses in the S&P 500.
The S&P 500 fell 23.26 points, or 0.7%, to 3,488.67.
The Dow Jones Industrial Average lost 165.81 points, or 0.6%, to 28,514.
The Nasdaq composite slid 95.17 points, or 0.8%, to 11,768.73.
The Russell 2000 index of small-cap stocks gave up 15.20 points, or 0.9%, to 1,621.65.
For the week:
The S&P 500 is up 11.54 points, or 0.3%.
The Dow is down 72.90 points, or 0.3%.
The Nasdaq is up 188.78 points, or 1.6%.
The Russell 2000 is down 15.89 points, or 1%.
For the year:
The S&P 500 is up 257.89 points, or 8%.
The Dow is down 24.44 points, or 0.1%.
The Nasdaq is up 2,796.12 points, or 31.2%.
The Russell 2000 is down 46.82 points, or 2.8%.