Stocks closed lower on Wall Street Tuesday as traders took in the latest sign that inflation is still running high ahead of the Federal Reserve’s last meeting of the year.
The S&P 500, the Nasdaq and the Dow Jones Industrial Average fell. The latest report on inflation showed that wholesale prices jumped in November from a year earlier. Federal Reserve policymakers began a two-day meeting at which they’re expected to speed up the withdrawal of economic stimulus measures.
The S&P 500 fell 34.88 points, or 0.7%, to 4,634.09.
The Dow Jones Industrial Average fell 106.77 points, or 0.3%, to 35,544.18.
The Nasdaq fell 175.64 points, or 1.1%, to 15,237.64.
The Russell 2000 index of smaller companies fell 20.85 points, or 1%, to 2,159.65.
For the week:
The S&P 500 is down 77.93 points, or 1.7%.
The Dow is down 426.81 points, or 1.2%.
The Nasdaq is down 392.96 points, or 2.5%.
The Russell 2000 is down 52.16 points, or 2.4%.
For the year:
The S&P 500 is up 878.02 points, or 23.4%.
The Dow is up 4,937.70 points, or 16.1%.
The Nasdaq is up 2,349.36 points, or 18.2%.
The Russell 2000 is up 184.80 points, or 9.4%.
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