Wall Street closed mostly lower on Tuesday, a day after tumbling into a bear market on worries that high inflation will push central banks to clamp the brakes too hard on the economy.
The S&P 500 slipped after another day of unsteady trading. Investors are bracing to see how big of an interest rate hike the Federal Reserve will make on Wednesday. Gains by several big technology companies including Oracle helped send the Nasdaq composite index edge higher.
On Tuesday:
The S&P 500 fell 14.15 points, or 0.4%, to 3,735.48.
The Dow Jones Industrial Average fell 151.91 points, or 0.5%, to 30,364.83.
The Nasdaq rose 19.12 points, or 0.2%, to 10,828.35.
The Russell 2000 index of smaller companies fell 6.77 points, or 0.4%, to 1,707.83.
For the week:
The S&P 500 is down 165.38 points, or 4.2%.
The Dow is down 1,027.96 points, or 3.3%.
The Nasdaq is down 511.68 points, or 4.5%.
The Russell 2000 is down 92.45 points, or 5.1%.
For the year:
The S&P 500 is down 1,030.70 points, or 21.6%.
The Dow is down 5,973.47 points, or 16.4%.
The Nasdaq is down 4,816.63 points, or 30.8%.
The Russell 2000 is down 537.48 points, or 23.9%.
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