How major US stock indexes fared Wednesday 3/1/2023

The Associated Press

Stocks dipped as Wall Street braced for interest rates to stay higher for longer with inflation remaining stubbornly sticky.

The S&P 500 fell 0.5% Wednesday. The Dow Jones Industrial Average edged higher and the Nasdaq composite fell.

After a hot start to the year, the stock market has struggled as data piled up showing inflation and the overall economy are remaining more resilient than expected. That forced many investors to delay their forecasts for a recession to later in the year, while also raising their expectations for how high the Federal Reserve will take interest rates.

On Wednesday:

The S&P 500 fell 18.76 points, or 0.5%, to 3,951.39.

The Dow Jones Industrial Average rose 5.14 points, or less than 0.1%, to 32,661.84.

The Nasdaq composite fell 76.06 points, or 0.7%, to 11,379.48.

The Russell 2000 index of smaller companies rose 1.44 points, or 0.1%, to 1,898.43.

For the week:

The S&P 500 is down 18.65 points, or 0.5%.

The Dow is down 155.08 points, or 0.5%.

The Nasdaq is down 15.46 points, or 0.1%.

The Russell 2000 is up 7.95 points, or 0.4%.

For the year:

The S&P 500 is up 111.89 points, or 2.9%.

The Dow is down 485.41 points, or 1.5%.

The Nasdaq is up 913 points, or 8.7%.

The Russell 2000 is up 137.19 points, or 7.8%.