17/01/24 Briefing

Dow Jones scores third day of losses, S&P and Nasdaq have worst day in two weeks

U.S. stocks finished lower on Wednesday as traders pulled back on their expectations for 2024 rate cuts following a strong December retail sales reading.

• The Dow Jones Industrial Average closed down by 94.45 points, or 0.3%, at 37,266.67 for the third consecutive day of losses, based on preliminary data.

• The S&P 500 ended lower by 26.77 points, or 0.6%, at 4,739.21.

• The Nasdaq Composite finished down by 88.73 points, or 0.6%, at 14,855.62.

• It was the worst day for the S&P 500 and Nasdaq since Jan. 3, based on Dow Jones Market Data.