Stocks wobble as Wall Street focuses on central banks

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks wobbled in afternoon trading on Wall Street Thursday as investors study moves by central banks to fight rising inflation. The S&P 500 fell 0.5% and is sitting just below the record high it reached last Friday. The tech-heavy Nasdaq slid 1.9% while the Dow Jones Industrial Average rose 0.2%. The muted trading came after the Bank of England became the first central bank among leading economies to raise interest rates to fight inflation. On Wednesday, the Federal Reserve of the U.S. announced an acceleration of its pullback of economic stimulus as it pivots to fighting inflation.