The Dow Jones Industrial Average erased gains to end flat in today’s stock market, while the major indexes sold off in afternoon trading. The S&P 500 and Nasdaq composite both reversed lower.
At the market close, the small-cap Russell 2000 was down 2.4%. The Nasdaq composite fell 2%. The S&P 500 lost 0.5%, while the Dow Jones industrials were flat. Volume was higher on the Nasdaq and on the NYSE compared with the close on Tuesday, according to early data.
On Wednesday, the Dow Jones industrials initially rallied as several reopening plays posted gains ahead of testimony from Federal Reserve Chairman Jerome Powell. In the U.S. House Financial Services Committee hearing on Tuesday, Powell told lawmakers that