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NEW YORK (AP) — A wipeout on Wednesday sent U.S. stock indexes to their worst losses since 2022 after profit reports from Tesla and Alphabet helped suck momentum from Wall Street's frenzy around artificial-intelligence technology. The S&P 500 tumbled 2.3% for its fifth drop in the last six days. The Dow Jones Industrial Average dropped 504 points, or 1.2%, and the Nasdaq composite skidded 3.6%. The profit reports from Tesla and Alphabet weren't disasters, but they raised questions among investors about which other market heavyweights' s...
Stocks are broadly higher on Wall Street Tuesday, as some of the most breathtaking moves from a manic Monday reverse course. The S&P 500 was 0.8% higher in afternoon trading after a report showed inflation is still high but heading lower. Stocks of smaller and mid-sized banks recovered some of their prior plunges caused by worries that customers could yank out all their cash. Treasury yields soared to trim their historic drops. The Dow Jones Industrial Average was up 58 points, or 0.2%, at 31,885, as of 2:21 p.m. Eastern time, while the Nasdaq...
Wall Street closed out a miserable September on Friday with the S&P 500's worst monthly skid since March 2020, when the coronavirus pandemic crashed global markets. The benchmark index ended the month with a 9.3% loss and posted its third straight losing quarter. It's now at its lowest level since November 2020 and is down by more than a quarter since the start of the year. The main reason financial markets continue to struggle is fear about a possible recession, as interest rates soar in hopes of beating down the high inflation that's swept...
NEW YORK (AP) — A swift jump in Treasury yields rattled Wall Street on Wednesday, pulling stocks broadly lower at the start of another month in what's been a turbulent year for the market. The S&P 500 ended 0.7% lower after an early morning gain quickly gave way to choppy trading. The Dow Jones Industrial Average slid 0.5% and the Nasdaq fell 0.7%. Stocks began their slide immediately after the release of several reports on the U.S. economy, including one showing manufacturing growth was stronger last month than expected. That bolstered i...
NEW YORK (AP) — Stocks racked up more losses on Wall Street Monday, leaving the S&P 500 at its lowest point in more than a year. The sell-off came as renewed worries about China's economy piled on top of global financial markets already battered by rising interest rates. The S&P 500 tumbled 3.2%, deepening its losses following five straight down weeks, its longest such streak in more than a decade. The Dow Jones Industrial Average fell 2% and the Nasdaq pulled back 4.3% as tech-oriented stocks again took the brunt of the selling. Monday's sharp...
NEW YORK (AP) — Stocks tumbled on Wall Street Friday, leaving the S&P 500 with its biggest one-day loss in almost seven weeks, as worries deepen about a surge in interest rates and the U.S. central bank's efforts to fight inflation. Several disappointing profit reports from companies also shook what's been the market's main pillar of support. The S&P 500 sank 2.8% and marked its third losing week in a row. The Dow Jones Industrial Average slumped 2.8%, its biggest drop in 18 months, after briefly skidding more than 1,000 points. The Nasdaq a...
NEW YORK (AP) — Technology companies led stocks broadly higher on Wall Street Tuesday, as oil prices slid sharply for the second day and inflation worries ebbed. The market rally came a day ahead of the Federal Reserve's highly anticipated interest rate policy update. The S&P 500 rose 2.1%, ending a three-day losing streak, after a report showed inflation's rapid acceleration paused at the wholesale level last month. The Dow Jones Industrial Average rose 1.8% and the tech-heavy Nasdaq composite rose 2.9%. The wilder action was in oil and A...
NEW YORK (AP) — Stocks around the world racked up more losses Friday, as even a gangbusters report on the U.S. jobs market can't pull Wall Street's focus off its worries about the war in Ukraine. The S&P 500 fell 0.8% and posted its third weekly loss in the last four. The Dow Jones Industrial Average fell 0.5% and the Nasdaq composite ended 1.7% lower. The declines for U.S. stock indexes followed sharper losses in Europe after a fire at the continent's largest nuclear plant caused by shelling raised worries about what's next. Markets w...
U.S. stocks pulled back from their recent record highs Monday, as big swings return to Wall Street at the onset of a year where the dominant expectation is for a powerful economic rebound to sweep the world. The S&P 500, which ended 2020 at an all-time high, slid 1.5% after earlier dropping as much as 2.5%. It was the benchmark index's biggest decline since late October. Technology companies accounted for a big share of the sell-off, along with industrial, communication services, health care and other stocks. Only the S&P 500's energy sector...
NEW YORK (AP) — Big technology stocks tumbled again on Tuesday, continuing the Icarus-like flight path for companies that just a week ago were the high-flyers carrying Wall Street to record heights. The S&P 500 fell 95.12, or 2.8%, to 3,331.84 and clinched its first three-day losing streak in nearly three months. Big names that were the main reasons for the market's rocket ride back from its pandemic-caused losses were among the heaviest weights. Apple sank 6.7%, Microsoft pulled 5.4% lower and tech stocks across the index were down 4.6%. T...
NEW YORK (AP) — More gains for tech stocks are helping prop up an otherwise wobbly Wall Street on Friday, as a record-breaking but wishy-washy week of trading comes to a close. The S&P 500 was up 0.3% in afternoon trading, even though most stocks in the index were weaker, after a couple reports on the U.S. economy showed more strength than economists expected. It followed up on losses across Europe after more discouraging reports there indicated a slowdown in its economies. The Dow Jones Industrial Average was up 179 points, or 0.6%, at 2...
NEW YORK (AP) — The stock market is not the economy. Rarely has that adage been as clear as it is now. An amazing, monthslong rally means the S&P 500 is roughly back to where it was before the coronavirus slammed the U.S, even though millions of workers are still getting unemployment benefits and businesses continue to shutter across the country. The S&P 500, which is the benchmark index for stock funds at the heart of many 401(k) accounts, ended Wednesday at 3,380.35 after briefly topping its closing record of 3,386.15 set on Feb. 19. It's e...
NEW YORK (AP) — Wall Street's big rally keeps rolling, and the S&P 500 rose for a fourth straight day Wednesday to sit just 1.7% below its record. The S&P 500 climbed 21.26 points, or 0.6%, to 3,327.77, echoing gains for stocks across Europe and Asia. If the U.S. market has just a few more days like that, it will erase the last of the historic losses it's taken since February because of the coronavirus pandemic and the recession it caused. The Dow Jones Industrial Average rose 373.05, or 1.4%, to 27,201.52, and the Nasdaq composite added 5... Full story
NEW YORK (AP) — A big rally on Wall Street suddenly vanished Tuesday, undercut in part by another plunge in the price of oil. The S&P 500 dipped 0.2% after erasing a surge of 3.5% earlier in the day. The market's gains faded as the price of U.S. crude oil abruptly flipped from a gain to a steep loss of more than 9%. It dampened what had been an ebullient day for markets worldwide, following up on Monday's 7% surge for the S&P 500 on encouraging signs that the coronavirus pandemic may be close to leveling off in some of the hardest-hit areas o...
Stocks took their worst one-day beating on Wall Street since the global financial crisis of 2008 as a collapse in oil prices Monday combined with mounting alarm over what the coronavirus could do to the world economy. The staggering losses, including a 7.8% tumble in the Dow Jones Industrial Average, immediately raised fears that a recession might be on the way in the U.S. and that the record-breaking 11-year bull market on Wall Street may be coming to an abrupt end in a way no one even imagined just a few months ago. The drop was so sharp...
You're not the only one confused about where the economy is headed. Just look at the stock market, where perplexed investors have been sending stocks on a wild ride in August. And there could be plenty more where that came from. Two notoriously volatile months for stocks lie just ahead. Stocks around the world jumped Friday to cap another tumultuous week. Investors have been frantically trying to rejigger their predictions about whether President Donald Trump's trade war and slowing economies around the world will drag the United States into a...
Elon Musk's track record for technological feats as chief of SpaceX has turned skeptics into believers in everything from his quest to open space travel to Mars to his desire to build a tunnel for high-speed travel between New York and Washington. As Tesla's CEO, his ambitious vision for electric cars has also earned him a faithful following. But now Wall Street is taking a more practical tone, increasingly questioning whether Musk can turn Tesla profitable as it burns through piles of cash and racks up debt. The company may ultimately be...
