Stocks are back to falling on Wall Street as worries about a possible recession and rising bond yields put the squeeze back on markets.
The S&P 500 fell 2.1% Thursday, reaching its lowest level since late 2020. The washout erased the index’s gains in a big rally the day before. The Dow Jones Industrial Average fell 1.5% and the Nasdaq lost 2.8%.
For markets to really turn higher, analysts say investors will need to see a break from the high inflation that’s swept the world. That hasn’t arrived yet, and even more data arrived Thursday showing the opposite.
On Thursday:
The S&P 500 fell 78.57 points, or 2.1%, to 3,640.47.
The Dow Jones Industrial Average fell 458.13 points, or 1.5%, to 29,225.61.
The Nasdaq fell 314.13 points, or 2.8%, to 10,737.51.
The Russell 2000 index of smaller companies fell 40.31 points, or 2.4%, to 1,674.93.
For the week:
The S&P 500 is down 52.76 points, or 1.4%.
The Dow is down 364.80 points, or 1.2%.
The Nasdaq is down 130.42 points, or 1.2%.
The Russell 2000 is down 4.66 points, or 0.3%.
For the year:
The S&P 500 is down 1,125.71 points, or 23.6%.
The Dow is down 7,112.69 points, or 19.6%.
The Nasdaq is down 4,907.46 points, or 31.4%.
The Russell 2000 is down 570.38 points, or 25.4%.
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