US stocks move lower, cooling off a day after broad rally

Published February 16, 2022 9:35 AM

By DAMIAN J. TROISE
AP Business Writer

Stocks fell in afternoon trading Wednesday, a day after a broad rally snapped a three-day losing streak. The S&P 500 fell 0.7%, the Dow Jones Industrial Average fell 0.8% and the Nasdaq fell 1.2%. Technology and communications companies were the biggest weights on the market. Investors were keeping a close eye on the Russian troop buildup around Ukraine, and they’ve also got the Federal Reserve in focus. In the afternoon the Fed will release minutes from its latest policy meeting last month. Investors will be watching for clues about the next steps in raising interest rates to fight inflation. Crude oil prices rose 2.2%.

Article Topic Follows: AP National Business

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