Wall Street edged lower following a rally that sent it roaring 16 percent higher for the year so far.
The S&P 500 slipped 0.2 percent Wednesday, edging down from its highest level since April 2022. The Dow fell 129 points, or 0.4 percent. The Nasdaq gave back 0.2 percent.
Other markets around the world fell more sharply following the latest discouraging signal from China’s economy. Growth in China’s services industry slowed by more than expected last month. The U.S. economy, meanwhile, has remained stronger than feared. Minutes from the Federal Reserve’s latest policy meeting showed that some central bank officials wanted to raise rates in mid-June.
On Wednesday:
The S&P 500 fell 8.77 points, or 0.2 percent, to 4,446.82.
The Dow Jones Industrial Average fell 129.83 points, or 0.4 percent, to 34,288.46.
The Nasdaq composite fell 25.12 points, or 0.2 percent, to 13,791.65.
The Russell 2000 index of smaller companies fell 23.87 points, or 1.3 percent, to 1,872.91.
For the week:
The S&P 500 is down 3.56 points, or 0.1 percent.
The Dow is down 118.96 points, or 0.3 percent.
The Nasdaq is up 3.73 points, or less than 0.1 percent.
The Russell 2000 is down 15.83 points, or 0.8 percent.
For the year:
The S&P 500 is up 607.32 points, or 15.8 percent.
The Dow is up 1,141.39 points, or 3.4 percent.
The Nasdaq is up 3,325.17 points, or 31.8 percent.
The Russell 2000 is up 111.66 points, or 6.3 percent.
