04-13-2022, 08:59 AM
S&P 500, Nasdaq fall for a third day, reversing earlier gains, after report shows highest inflation since ’81
Stocks fell on Tuesday, after an early morning bounce gave way to selling as investors weighed the latest U.S. inflation data. The report showed another sharp increase in prices for last month.
The S&P 500 declined 0.34% to 4,397.45, and the Nasdaq Composite fell 0.30% to 13,371.57, as both averages posted losses for a third trading day. The Dow Jones Industrial Average closed 87.72 points lower, or 0.26%, to 34,220.36.
The major averages were sharply higher to start the session, with the Dow rallying as much as 361.89 points, or about 1.1%. The S&P 500 and Nasdaq were up as much as 1.3% and 2%, respectively, at their highs of the day. Wall Street was trying to recover from steep losses suffered in the previous session.
- More -
The S&P 500 declined 0.34% to 4,397.45, and the Nasdaq Composite fell 0.30% to 13,371.57, as both averages posted losses for a third trading day. The Dow Jones Industrial Average closed 87.72 points lower, or 0.26%, to 34,220.36.
The major averages were sharply higher to start the session, with the Dow rallying as much as 361.89 points, or about 1.1%. The S&P 500 and Nasdaq were up as much as 1.3% and 2%, respectively, at their highs of the day. Wall Street was trying to recover from steep losses suffered in the previous session.
- More -