Market Snapshot: U.S. stocks finish mostly lower as S&P 500 books longest losing streak in nearly two months

by | Dec 7, 2022 | Stock Market

U.S. stock indexes ended mostly lower on Wednesday with the S&P 500 notching the fifth straight day of losses driven by worries about the chances of an harder economic downturn unfolding in coming months.How stocks traded
S&P 500
SPX,
-0.19%
shed 7.34 points, or 0.2%, to end at 3,933.92

Dow Jones Industrial Average
DJIA,
+0.00%
gained 1.58 points, or nearly flat, finishing at 33,597.92, after rallying over 145 points in the morning session.

Nasdaq Composite
COMP,
-0.51%
fell 56.34 points, or 0.5%, to finish at 10,958.55

On Tuesday, the Dow Jones Industrial Average fell 351 points, or 1.03%, to 33596, the S&P 500 declined 58 points, or 1.44%, to 3,941, and the Nasdaq Composite dropped 225 points, or 2%, to 11,015.

What drove markets The S&P 500 index has lost 3.4% in the past four days as investors continued to assess the potential economic damage inflicted by high inflation and the Federal Reserve’s campaign to damp it by raising interest rates. “Sometimes it’s hard to pinpoint precise catalysts for all these moves that we see. It’s been a very volatile year, and you never know if it’s sentiment or positioning or if it’s actual news that the market is responding to,” said David Lefkowitz, head of equities Americas at UBS Global Wealth Management. Lefkowitz said when the Fed is done hiking its benchmark interest rate some time ne …

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