Stocks closed lower again on Wall Street but still managed to hold on to sizable gains for the week.
The S&P 500 fell 1% Thursday. The Dow Jones Industrial Average lost a bit more than 1% and the Nasdaq gave back 0.7%. Bond yields moved higher.
Investors were reviewing the latest data on jobs. More Americans filed for unemployment benefits last week, but the labor market remains strong in the face of persistent inflation and a slowing overall U.S. economy. Traders will be watching closely on Friday when the government releases its monthly survey on the job market.
On Thursday:
The S&P 500 fell 38.76 points, or 1%, to 3,744.52.
The Dow Jones Industrial Average fell 346.93 points, or 1.1%, to 29,926.94.
The Nasdaq fell 75.33 points, or 0.7%, to 11,073.31.
The Russell 2000 index of smaller companies fell 10.18 points, or 0.6%, to 1,752.51.
For the week:
The S&P 500 is up 158.90 points, or 4.4%.
The Dow is up 1,2401.43 points, or 4.2%.
The Nasdaq is up 497.69 points, or 4.7%.
The Russell 2000 is up 87.80 points, or 5.3%.
For the year:
The S&P 500 is down 1,021.66 points, or 21.4%.
The Dow is down 6,411.36 points, or 17.6%.
The Nasdaq is down 4,571.66 points, or 29.2%.
The Russell 2000 is down 492.80 points, or 21.9%.
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