Wall Street Ticks Lower Again

World banks raise rates after the Federal Reserve's move
By Newser Editors and Wire Services
Posted Sep 22, 2022 3:40 PM CDT
Wall Street Ticks Lower Again
A man walks past the New York Stock Exchange, Wednesday, Sept. 21, 2022, in New York.   (AP Photo/Peter Morgan)

(Newser) – Stocks closed lower Thursday on Wall Street, deepening their losses for the week, as central banks around the world raised interest rates to fight inflation, per the AP.

  • The S&P 500 fell 31 points to 3,757, a loss of 0.3%.
  • The Dow fell 107 points to 30,076, down 0.8%.
  • The Nasdaq fell 153 points to 11,066, down 1.3%.

The losses were broad and led by retailers, banks, and industrial companies. Starbucks fell 3.9%, American Express dropped 3%, and UPS slid 2.9%. Health care stocks were among the few bright spots. Johnson & Johnson rose 2.2%. Smaller company stocks fell more than the broader market in a sign that investors were worried about the economy. The Russell 2000 fell 1.9%. The declines came as central banks around the world hiked interest rates to fight inflation, catching up with the Federal Reserve's move.

(Read more stock market stories.)

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