How major US stock indexes fared Thursday 11/17/2022
Stocks fell on Wall Street and Treasury yields rose after more indications from the Federal Reserve that it may need to raise interest rates much higher than many people expect to get inflation under control.
The Fed has been raising rates aggressively in order to tame inflation by applying the brakes to the economy.
The S&P 500 fell 0.3% Thursday. The tech-heavy Nasdaq and Dow Jones Industrial Average also lost ground. The indexes are on pace for weekly losses. The yield on the two-year Treasury rose to 4.45%. Oil prices ended lower, and markets in Asia and Europe also fell.
The S&P 500 fell 12.23 points, or 0.3%, to 3,946.56.
The Dow Jones Industrial Average fell 7.51 points, or less than 0.1%, to 33,546.32.
The Nasdaq fell 38.70 points, or 0.3%, to 11,144.96.
The Russell 2000 index of smaller companies fell 14.04 points, or 0.8%, to 1,839.12.
For the week:
The S&P 500 is down 46.37 points, or 1.2%.
The Dow is down 201.54 points, or 0.6%.
The Nasdaq is down 178.37 points, or 1.6%.
The Russell 2000 is down 43.62 points, or 2.3%.
For the year:
The S&P 500 is down 819.62 points, or 17.2%.
The Dow is down 2,791.98 points, or 7.7%.
The Nasdaq is down 4,500.01 points, or 28.8%.
The Russell 2000 is down 406.19 points, or 18.1%.
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