Stocks ended lower Thursday, building on the previous session’s rout as the S&P 500 fell closer to bear-market territory. The Dow Jones Industrial Average fell around 237 points, or 0.8%, to close near 31,253, according to preliminary figures, while the S&P 500 dropped around 23 points, or 0.6%, to finish near 3,901. The Nasdaq Composite lost around 30 points, or 0.3%, ending near 11,389. A finish below 3,837.25 would mark a fall of at least 20% from the S&P 500’s Jan. 3 record close and would meet the widely used definition of a bear market. Stocks fell sharply on Wednesday, with the Dow and S&P 500 posting their biggest one-day losses since June 2020, after disappointing results from retailing giant Target Corp. sparked fears that rising costs were beginning to cut into corporate profit margins.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
