Stocks are closing lower on Wall Street Wednesday following a Federal Reserve report that shows U.S. economic activity slowed this summer amid rising worries over resurgent coronavirus cases and mounting supply chain problems and labor shortages.
The S&P 500 index, the Dow Jones Industrial Average and the Nasdaq composite all fell. Technology stocks had some of the biggest losses. Less risky investments, including consumer staples and utilities, made broad gains.
The S&P 500 fell 5.96 points, or 0.1%, to 4,514.07.
The Dow Jones Industrial Average fell 68.93 points, or 0.2%, to 35,031.07.
The Nasdaq fell 87.69 points, or 0.6%, to 15,286.64.
The Russell 2000 index of smaller companies fell 25.88 points, or 1.1%, to 2,249.73.
For the week:
The S&P 500 is down 21.36 points, or 0.5%.
The Dow is down 338.02 points, or 1%.
The Nasdaq is down 76.88 points, or 0.5%.
The Russell 2000 is down 42.32 points, or 1.8%.
For the year:
The S&P 500 is up 758 points, or 20.2%.
The Dow is up 4,424.59 points, or 14.5%.
The Nasdaq is up 2,398.36 points, or 18.6%.
The Russell 2000 is up 274.87 points, or 13.9%.