How major US stock indexes fared Tuesday 11/1/2022
Nov 1, 2022, 1:20 PM | Updated: 1:46 pm
Stocks gave up early gains and ended lower on Wall Street after an unexpectedly strong report on the job market raised concerns that the Federal Reserve will need to keep the pressure on inflation with aggressive interest rate increases.
Those high rates are intended to slow the economy, and the fear is the Fed may go too far and cause a recession. Several companies rose after reporting solid earnings or outlooks, including Pfizer and Uber. The S&P 500 fell 0.4% Tuesday. Long-term Treasury yields reversed course from an early slide and rose back near multiyear highs.
The S&P 500 fell 15.88 points, or 0.4%, to 3,856.10.
The Dow Jones Industrial Average fell 79.75 points, or 0.2%, to 32,653.20.
The Nasdaq fell 97.30 points, or 0.9%, to 10,890.85.
The Russell 2000 index of smaller companies rose 4.53 points, or 0.2%, to 1,851.39.
For the week:
The S&P 500 is down 44.96 points, or 1.2%.
The Dow is down 208.60 points, or 0.6%.
The Nasdaq is down 211.61 points, or 1.9%.
The Russell 2000 is up 4.47 points, or 0.2%.
For the year:
The S&P 500 is down 910.08 points, or 19.1%.
The Dow is down 3,685.10 points, or 10.1%.
The Nasdaq is down 4,754.13 points, or 30.4%.
The Russell 2000 is down 393.92 points, or 17.5%.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.