NEW YORK (AP) — Stocks are mixed on Wednesday, a day after falling to their worst loss since December, as Wall Street prepares for interest rates to stay higher for longer.
The S&P 500 dipped 0.2% after drifting between small gains and losses through the day. The Dow Jones Industrial Average fell 101 points, or 0.3%, to 33,027, as of 3:25 p.m. Eastern time, while the Nasdaq composite was up 0.1%.
After leaping at the start of the year, stocks have hit a wall in February on worries that inflation may not be cooling as quickly or as smoothly as hoped. That has Wall Street upping its forecasts for how high the Federal Reserve will take interest rates, as well as for how long it will keep them at that level.
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