How major US stock indexes fared Wednesday, 8/16/2023
Wall Street’s weak August worsened Wednesday, as the major stock indexes racked up more losses.
The S&P 500 fell 0.8%, the Dow dropped roughly 180 points, and the Nasdaq slid 1.2%. Increased pressure came from the bond market, where yields have neared their highest levels since the Great Recession.
Yields climbed more following the release of the minutes from the Federal Reserve’s latest meeting. The Fed appears unsure about its next move on interest rates. Hopes had been rising that last month’s rate hike would prove to be the Fed’s last.
On Wednesday:
The S&P 500 fell 33.53 points, or 0.8%, to 4,404.33.
The Dow Jones Industrial Average fell 180.65 points, or 0.5%, to 34,765.74.
The Nasdaq composite fell 156.42 points, or 1.2%, to 13,474.63.
The Russell 2000 index of smaller companies fell 24.24 points, or 1.3%, to 1,871.52.
For the week:
The S&P 500 is down 59.72 points, or 1.3%.
The Dow is down 515.66 points, or 1.5%.
The Nasdaq is down 170.22 points, or 1.3%.
The Russell 2000 is down 53.60 points, or 2.8%.
For the year:
The S&P 500 is up 564.83 points, or 14.7%.
The Dow is up 1,618.49 points, or 4.9%.
The Nasdaq is up 3,008.15 points, or 28.7%.
The Russell 2000 is up 110.27 points, or 6.3%.