Stocks fall Wednesday amidst inflation and interest rate fears
Wall Street stocks slide on Wednesday as concerns continue to swirl over lingering inflation and potential interest rate hikes.
The Dow Jones Industrial Average fell 198.78 points or 0.57% to end at 34,443.19 points, while the S&P 500 dropped 0.7% to finish at 4,469.75.
The tech heavy Nasdaq fell over 1% to close at 13,872.47, posting a third straight day of losses as tech stocks underperformed with Nvidia and Apple dropping 3% each.
The jump in U.S. Treasury yields along with stronger than expected economic data put pressure on tech stocks and fueled likelihood over further interest rate hikes.
Stocks End with Mixed Results After Latest PCE Data
