Stocks closed lower on Wall Street, giving up an early gain and losing momentum after a solid start to the week
Stocks closed lower on Wall Street, giving up an early gain and losing momentum after a solid start to the week.
Gains by several Big Tech companies helped limit the loss in the Nasdaq. Banks and energy companies fell the most. Investors are still worried that rising inflation could eventually prompt central banks to withdraw help for the economy. Homebuilders rose following a report that U.S. home prices jumped in March by the most in more than seven years.
The S&P 500 fell 8.92 points, or 0.2%, to 4,188.13.
The Dow Jones Industrial Average fell 81.52 points, or 0.2%, to 34,312.46.
The Nasdaq fell 4 points, or less than 0.1%, to 13,657.17.
The Russell 2000 index of smaller companies fell 21.59 points, or 1%, to 2,205.75.
For the week:
The S&P 500 is up 32.27 points, or 0.8%.
The Dow is up 104.62 points, or 0.3%.
The Nasdaq is up 186.18 points, or 1.4%.
The Russell 2000 is down 9.52 points, or 0.4%.
For the year:
The S&P 500 is up 432.06 points, or 11.5%.
The Dow is up 3,705.98 points, or 12.1%.
The Nasdaq is up 768.89 points, or 6%.
The Russell 2000 is up 230.90 points, or 11.7%.