Stocks fell again as Wall Street’s slow start to 2024 carried into a second day.
The S&P 500 lost 0.8% Wednesday, though it remains within 2% of its record. The Dow Jones Industrial Average fell 0.8%, and the Nasdaq composite sank 1.2%. Some of last year’s biggest winners again weakened, and Tesla fell 4%.
Treasury yields largely eased after reports showed a slowing economy, which economists hope will keep a lid on inflation but stop short of a recession. The minutes from the Federal Reserve’s latest meeting indicated rate cuts are likely this year but called the outlook unusually uncertain.
On Wednesday:
The S&P 500 fell 38.02 points, or 0.8%, to 4,704.81
The Dow Jones Industrial Average fell 284.85 points, or 0.8%, to 37,430.19.
The Nasdaq composite fell 173.73 points, or 1.2%, to 14,592.21.
The Russell 2000 index of smaller companies fell 53.59 points, or 2.7%, to 1,959.20.
For the week:
The S&P 500 is down 65.02 points, or 1.4%.
The Dow is down 259.35 points, or 0.7%.
The Nasdaq is down 419.14 points, or 2.8%.
The Russell 2000 is down 67.87 points, or 3.3%.