Stocks closed lower in another day of choppy trading Wednesday on Wall Street, on pace for a weekly loss after several days of declines. Losses in technology and retail stocks outweighed gains in communications and other sectors.
The S&P 500 lost nearly 1 percent Wednesday after wavering between gains and losses. The Dow Jones Industrial Average and Nasdaq composite also lost ground.
Bed Bath & Beyond lost almost a quarter of its value after announcing a major restructuring and a stock sale. Treasury yields were mixed and energy prices fell. The market closed August broadly lower after surging in July.
Technology stocks and big retailers were among the heaviest weights on the market. Chipmaker Nvidia fell 2.1 percent and Best Buy slid 5.4 percent.
Energy companies fell as the price of U.S. crude oil dropped 2.3 percent. Occidental Petroleum slipped 1 percent.
Those losses kept gains in communications stocks and elsewhere in the market in check. Meta Platforms rose 4 percent.
Bed Bath & Beyond sank 19.9 percent, while Snap, the operator of the Snapchat messaging app, jumped 9.1 percent after announcing it will lay off 20 percent of its work force.
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September 01, 2022 at 04:29PM
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Stocks end lower in choppy trading - Jefferson City News Tribune
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