A broad slide for stocks added to Wall Street’s recent losses Wednesday, as investors count down to the end of the worst year for the S&P 500 since 2008.
The S&P 500 fell 1.2 percent, with technology, energy and industrial stocks among the biggest weights on the benchmark index. The tech-heavy Nasdaq composite slid 1.4 percent. Both indexes came into this week with three straight weekly losses.
The Dow Jones Industrial Average dropped 1.1 percent, while the fell Russell 2000 index of smaller company stocks fell 1.6 percent.
With two more days of trading left in 2022, the S&P 500 is headed for a roughly 20 percent drop for the year, even as profits and margins for companies in the index have hit record heights this year. The Dow is on pace for a 9.5 percent drop, while the Nasdaq is doing much worse, on pace to plunge 34.7 percent…. Source
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