How major US stock indexes fared Wednesday 8/17/2022

The Associated Press

Stocks closed lower on Wall Street, led by drops in big technology companies and erasing the S&P 500′s gains for the week.

The S&P 500 fell 0.7% Wednesday, while the Dow Jones Industrial Average and the Nasdaq also fell. Small-company stocks fell more than the rest of the market.

Wall Street was absorbing a mix of retail updates that showed inflation pressure continues to affect businesses and consumers, but also shows that spending remains strong. Target fell after reporting a plunge in profits. The government reported that retail sales were flat in July.

On Wednesday:

The S&P 500 fell 31.16 points, or 0.7%, to 4,274.04.

The Dow Jones Industrial Average fell 171.69 points, or 0.5%, to 33,980.32.

The Nasdaq fell 164.43 points, or 1.3%, to 12,938.12.

The Russell 2000 index of smaller companies fell 33.22 points, or 1.6%, to 1,987.31.

For the week:

The S&P 500 is down 6.11 points, or 0.1%.

The Dow is up 219.27 points, or 0.6%.

The Nasdaq is down 109.06 points, or 0.8%.

The Russell 2000 is down 29.30 points, or 1.5%.

For the year:

The S&P 500 is down 492.14 points, or 10.3%.

The Dow is down 2,357.98 points, or 6.5%.

The Nasdaq is down 2,706.85 points, or 17.3%.

The Russell 2000 is down 258 points, or 11.5%.