Wall Street wilts, trimming its May gains as Dow drops 400 points

U.S. stocks sank under the weight of higher yields in the bond market on Wednesday. The Standard & Poor's 500 dipped 39.09 points, or 0.7%, to 5,266.95 and fell further from its record set last week. It trimmed its gain for May, which had been on track to be its best month since November, as four out of every five stocks in the index dropped. The Dow Jones industrial average lost 411.32 points, or 1.1%, to close at 38,441.54, and the Nasdaq composite slipped 99.30 points, or 0.

The Fed is trying to pull off the balancing act of grinding down on the economy just enough through high interest rates to get inflation fully under control, but not so much that it leads to widespread layoffs. A report from the Fed released Wednesday said that it’s heard from businesses and other contacts around the country that consumers are pushing back against more increases to prices.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street edges back from records after Dow briefly tops 40,000U.S. stocks edged back from their record heights after the Dow Jones industrial average briefly topped the 40,000 level for the first time.
Source: latimes - 🏆 11. / 82 Read more »

Stock market: Wall Street hangs around its records after Dow briefly tops 40,000U.S. stocks are drifting around their record levels after the Dow Jones Industrial Average briefly topped the 40,000 level for the first time.
Source: KSLcom - 🏆 549. / 51 Read more »

Stock market: Wall Street hangs around its records after Dow briefly tops 40KU.S. stocks are drifting around their record levels Thursday after the Dow Jones Industrial Average briefly topped the 40,000 level for the first time.
Source: komonews - 🏆 272. / 63 Read more »

Stock market today: Dow tops 40,000 for the first time as Wall Street drifts higherThe Dow Jones Industrial Average topped the 40,000 level for the first time Thursday, as U.S. stocks drifted higher to add to their records set a day before.
Source: amNewYork - 🏆 336. / 59 Read more »