Stocks gave up an afternoon gain and ended slightly lower on Wall Street Wednesday.
Energy companies helped pull the market lower after crude oil prices sank. The S&P 500 fell 0.1%, the Dow Jones Industrial Average fell 0.2% and the Nasdaq lost 0.1%.
The price of U.S. crude oil fell 4%. Investors closely watched testimony to Congress from Federal Reserve Chair Jerome Powell. He reaffirmed the central bank’s determination to raise interest rates and slow inflation. Bond yields mostly fell.
The S&P 500 fell 4.90 points, or 0.1%, to 3,759.89.
The Dow Jones Industrial Average fell 47.12 points, or 0.2%, to 30,483.13.
The Nasdaq fell 16.22 points, or 0.1%, to 11,053.08.
The Russell 2000 index of smaller companies fell 3.75 points, or 0.2%, to 1,690.28.
For the week:
The S&P 500 is up 85.05 points, or 2.3%.
The Dow is up 594.35 points, or 2%.
The Nasdaq is up 254.73 points, or 2.4%.
The Russell 2000 is up 24.58 points, or 1.5%.
For the year:
The S&P 500 is down 1,006.29 points, or 21.1%.
The Dow is down 5,855.17 points, or 16.1%.
The Nasdaq is down 4,591.89 points, or 29.4%.
The Russell 2000 is down 555.04 points, or 24.7%.
Copyright © 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.