Stocks closed lower on Wall Street Thursday as investors gave mixed reviews to earnings from four of the nation’s largest banks.
The yield on the 10-year Treasury rose as inflation worries continue to overhang the markets. Investors again turned their attention to the drama surrounding Tesla CEO Elon Musk and Twitter. Musk offered to buy the social media company two weeks after revealing he’d accumulated a 9% stake.
The S&P 500 fell 54 points, or 1.2%, to 4,392.59.
The Dow Jones Industrial Average fell 113.36 points, or 0.3%, to 34,451.23.
The Nasdaq fell 292.51 points, or 2.1%, to 13,351.08.
The Russell 2000 index of smaller companies fell 20.12 points, or 1%, to 2,004.98.
For the week:
The S&P 500 is down 95.69 points, or 2.1%.
The Dow is down 269.89 points, or 0.8%.
The Nasdaq is down 359.92 points, or 2.6%.
The Russell 2000 is up 10.42 points, or 0.5%.
For the year:
The S&P 500 is down 373.59 points, or 7.8%.
The Dow is down 1,887.07 points, or 5.2%.
The Nasdaq is down 2,293.89 points, or 14.7%.
The Russell 2000 is down 240.33 points, or 10.7%.
Copyright © 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.