How major US stock indexes fared Wednesday, 12/20/2023
Wall Street slammed the brakes on its big rally following disappointing profit reports from companies and warnings that the market had simply gone too far, too fast.
The S&P 500 fell 1.5% Wednesday for its worst loss since beginning a monster-sized run shortly before Halloween. FedEx tumbled after cutting its revenue forecast. Weakness for FedEx could damage hopes that the economy can conquer high inflation without a recession.
On Wednesday:
The S&P 500 fell 70.02 points, or 1.5%, to 4,698.35
The Dow Jones Industrial Average fell 475.92 points, or 1.3%, to 37,082.00.
The Nasdaq composite fell 225.28 points, or 1.5%, to 14,777.94.
The Russell 2000 index of smaller companies fell 38.12 points, or 1.9%, to 1,982.84.
For the week:
The S&P 500 is down 20.84 points, or 0.4%.
The Dow is down 223.16 points, or 0.6%.
The Nasdaq is down 35.98 points, or 0.2%.
The Russell 2000 is down 2.29 points, or 0.1%.
For the year:
The S&P 500 is up 858.85 points, or 22.4%.
The Dow is up 3,934.75 points, or 11.9%.
The Nasdaq is up 4,311.46 points, or 41.2%.
The Russell 2000 is up 221.59 points, or 12.6%.