U.S. stocks fell on Wednesday, as the Dow Jones and S&P 500 indexes ended a four-session streak of gains after declining signs of progress in Ukraine-Russia peace talks and amid the prospect of that a more aggressive stance by the US central bank in fighting inflation could stifle economic growth.
The S&P 500 rallied more than 5% in March after starting the year with two consecutive monthly declines. Still, the benchmark is on track for its first quarterly decline since the first quarter of 2020, when the US Covid-19 pandemic was in full swing.
Stock prices have reacted to news of talks to resolve the impasse generated by Russia’s invasion of Ukraine. Commodity prices such as oil and metals have soared since the start of the war and fueled already high US inflation.
The S&P 500 closed down 0.63% to 4,602.45 points, the Dow Jones Industrial Average was down 0.19% to 35,228.81 points and the Nasdaq technology index was down 1.21% to 14,442.28 points. .
The S&P 500 energy index rose the most for the session, gaining 1.17%. The sector is up nearly 40% this year, which would mark its strongest quarterly performance ever.
The sector is currently one of only three positives for the year and far surpassed the closest performer, the utilities index, which rose nearly 4% on the year but closed at a record high for the fourth straight session.
Source: CNN Brasil
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