US stocks slip, on track for 4th monthly loss this year
Stocks ended mostly lower on Wall Street Wednesday, keeping the market on track for its fourth monthly loss this year. The S&P 500 fell 0.1%. The benchmark index has been volatile all week, and is down 20% for the year as investors worry about inflation and rising interest rates. The Dow Jones Industrial Average rose 0.3% and the Nasdaq fell less than 0.1%. Small company stocks fell sharply. Bed Bath & Beyond plunged 23.6% after reporting a far bigger loss than analysts expected and replacing its CEO. The yield on the 10-year Treasury note fell to 3.10%.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
Stocks shifted between gains and losses on Wall Street Wednesday, keeping the market on track for its fourth monthly loss this year.
The S&P 500 was down 0.2% as of 2:45 p.m. Eastern. The benchmark index has been volatile all week, and is down about 20% for the year as investors worry about inflation and rising interest rates.
The Dow Jones Industrial Average rose 74 points, or 0.2%, to 31,018 and the Nasdaq slipped 0.3%.
Small company stocks fell sharply in a signal that investors were worried about economic growth. The Russell 2000 slid 1.2%.
Bed Bath & Beyond plunged 23% after reporting a far bigger loss than analysts expected and replacing its CEO.
The government reported that the economy shrank at a 1.6% annual pace in the first three months of the year, its third and final estimate for GDP in the first three months of 2022. That figure was in line with previous estimates, and economists expect growth to resume later this year.
Investors have been closely watching economic data as they try to determine how deeply inflation is hurting consumers and businesses, while also keeping an eye on the Federal Reserve's aggressive shift to...