How major US stock indexes fared Wednesday 4/12/2023

Stocks closed lower following the latest update on inflation and the latest warning of a possible recession.

The S&P 500 lost 0.4% Wednesday after bouncing between small gains and losses earlier. The Nasdaq composite slid 0.9% and the Dow also fell.

Minutes from the Fed’s last meeting revealed Wednesday that its staff economists have forecast that a pullback in lending resulting from the banking turmoil will cause a “mild recession” starting later this year. A report Wednesday morning showed that prices at the consumer level were 5% higher last month than a year earlier.

On Wednesday:

The S&P 500 fell 16.99 points, or 0.4%, to 4,091.95.

The Dow Jones Industrial Average fell 38.29 points, or 0.1%, to 33,646.50.

The Nasdaq composite fell 102.54 points, or 0.9% to 11,929.34.

The Russell 2000 index of smaller companies fell 12.90 points, or 0.7%, to 1,773.70.

For the week:

The S&P 500 is down 13.07 points, or 0.3%.

The Dow is up 161.21 points, or 0.5%.

The Nasdaq is down 158.62 points, or 1.3%.

The Russell 2000 is up 19.23 points, or 1.1%.

For the year:

The S&P 500 is up 252.45 points, or 6.6%.

The Dow is up 499.25 points, or 1.5%.

The Nasdaq is up 1,462.85 points, or 14%.

The Russell 2000 is up 12.45 points, or 0.7%.

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