Wed, May 31, 2023 1:16 PM
By The Associated Press, AP
Wall Street closed lower as worries rise about the strength of the global economy and inflation.
The S&P 500 fell 0.6% Wednesday. The Nasdaq composite fell a similar amount, and the Dow Jones Industrial Average fell 0.4%. Markets in Asia fell even more following discouraging data on manufacturing in China.
In the U.S., economic data were mixed. A strong report on the job market raised expectations for the Federal Reserve to raise interest rates again in two weeks. But a later speech by a Fed official calmed those worries. The S&P 500 ended May with a slight gain.
The S&P 500 fell 25.69 points, or 0.6%, to 4,179.83.
The Dow Jones Industrial Average fell 134.51 points, or 0.4%, to 32,908.27
The Nasdaq composite fell 82.14 points, or 0.6% to 12,935.29.
The Russell 2000 index of smaller companies fell 17.64 points, or 1%, to 1,749.65.
For the week:
The S&P 500 is down 25.62 points, or 0.6%.
The Dow is down 185.07 points, or 0.6%.
The Nasdaq is down 40.40 points, or 0.3%.
The Russell 2000 is down 23.37 points, or 1.3%.
For the year:
The S&P 500 is up 340.33 points, or 8.9%.
The Dow is down 238.98 points, or 0.7%.
The Nasdaq is up 2,468.80 points, or 23.6%.
The Russell 2000 is down 11.60 points, or 0.7%.