U.S. stock benchmarks finish lower in choppy trade Wednesday, as investors reassessed potential progress between Russia and Ukraine negotiators and heard more hawkish tones from the Federal Reserve.
How did stock indexes trade?
-
The Dow Jones Industrial Average
DJIA
fell 65.38 points, or 0.2%, to end at 35,228.81 -
The S&P 500
SPX
shed 29.15 points, or 0.6%, closing at 4,602.45 -
The Nasdaq Composite
COMP
lost 177.36 points lower, or 1.2%, finishing at 14,442.27
On Tuesday, the Dow Jones Industrial Average
DJIA
rose 338.30 points, or 1%, to close at 35,294.19, rising for a fourth straight day. The S&P 500
SPX
gained 1.2% to finish at 4,631.60, exiting correction territory and marking its fourth straight gain, according to Dow Jones Market Data. The Nasdaq Composite
COMP
climbed 1.8% to end at 14,619.64, its second consecutive day of gains.
Read: S&P 500 exits correction: Here’s what history says happens next to U.S. stock-market benchmark
What drove markets?
Stocks slipped and oil prices pushed higher Wednesday after Russian forces shelled areas around Kyiv and another Ukrainian city overnight, just hours after it pledged to “fundamentally” cut back operations in the areas, Associated Press reported.
“We do expect a little profit-taking after four days of gains but big picture-wise, we continue to expect volatility,” Greg Bassuk, chief executive at AXS Investments, said in a phone interview.
In addition to developments in the Russia-Ukraine war, investors also heard from Kansas City Federal Reserve President Esther George, who said the central bank must move expeditiously away from an easy policy stance. That should include a significant reduction of the Fed’s near $9 trillion balance sheet, she said.
“We essentially have an economy that is operating still under very…
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You can read this complete story at: https://www.marketwatch.com/story/u-s-stock-futures-ease-as-investors-monitor-ukraine-war-await-key-private-sector-payroll-data-11648630498?mod=emerging-markets
