Wall Street closed lower Wednesday in more choppy trading as investors were discouraged to see more evidence of inflation’s impact on businesses and another gloomy outlook on the global economy.
Banks and industrial stocks fell broadly, as did some big technology companies. Intel lost 5.4%. The yield on the 10-year Treasury, which helps set interest rates on mortgages, rose to 3.02%.
It’s been a bumpy week for major indexes, which have lurched between gains and losses, sometimes by the hour.
The S&P 500 fell 44.91 points, or 1.1%, to 4,115.77.
The Dow Jones Industrial Average fell 269.24 points, or 0.8%, to 32,910.90.
The Nasdaq fell 88.96 points, or 0.7%, to 12,086.27.
The Russell 2000 index of smaller companies fell 28.56 points, or 1.5%, to 1,891.01.
For the week:
The S&P 500 is up 7.23 points, or 0.2%.
The Dow is up 11.20 points, or less than 0.1%.
The Nasdaq is up 73.54 points, or 0.6%.
The Russell 2000 is up 7.95 points, or 0.4%.
For the year:
The S&P 500 is down 650.41 points, or 13.6%.
The Dow is down 3,427.40 points, or 9.4%.
The Nasdaq is down 3,558.70 points, or 22.7%.
The Russell 2000 is down 354.31 points, or 15.8%.