US stocks shuffle lower, pulling indexes further from highs

By DAMIAN J. TROISE and STAN CHOE
AP Business Writers

NEW YORK (AP) — Stock indexes shuffled lower on Wall Street Wednesday, pulling a bit further off their record heights. The S&P 500 fell 0.3% after earlier drifting between a tiny gain and a 0.4% decline. It’s sitting just below its all-time high set a week and a half ago. The majority of stocks in the S&P 500 fell, and the smaller stocks in the Russell 2000 dropped even more. But gains for some heavyweight stocks helped soften the losses. Treasury yields eased back following a week of big gains amid worries about high inflation. The yield on the 10-year Treasury fell to 1.59%.