Stock market today: Wall Street’s rally stalls as Nasdaq pulls back from its record
U.S. stock indexes fell following some potentially discouraging data on the economy
By STAN CHOE
Published - Dec 12, 2024, 05:12 PM ET
Last Updated - Dec 16, 2024, 04:58 PM EST
NEW YORK (AP) — U.S. stock indexes fell Thursday following some potentially discouraging data on the economy.
The S&P 500 slipped 0.5% for its fourth loss in the last six days. It’s a pause for the index, which has been rallying toward one of its best years of the millennium.
The Dow Jones Industrial Average lost 234 points, or 0.5%, and the Nasdaq composite sank 0.7% from its record set the day before.
A report early in the morning said more U.S. workers applied for unemployment benefits last week than expected. A separate update, meanwhile, showed that inflation at the wholesale level, before it reaches U.S. consumers, was hotter last month than economists expected.
