How major US stock indexes fared Thursday 5/11/2023
Wall Street edged lower, weighed down by a sharp drop for Disney and flaring fears about the health of some U.S. banks.
The S&P 500 and the Dow slipped, while the Nasdaq gained ground.
Some banks beaten down by the industry’s mini-panic came under pressure. PacWest tumbled after disclosing a flight of deposits last week.
Also falling was Peloton Interactive, which is recalling 2.2 million of its exercise bikes because of a seat defect. In the bond market, Treasury yields slipped after another report suggested inflation is slowly heading toward normal.
The S&P 500 fell 7.02 points, or 0.2%, to 4,130.62.
The Dow Jones Industrial Average fell 221.82 points, or 0.7%, to 33,309.51.
The Nasdaq composite rose 22.06 points, or 0.2% to 12,328.51.
The Russell 2000 index of smaller companies fell 14.81 points, or 0.8%, to 1,744.71.
For the week:
The S&P 500 is down 5.63 points, or 0.1%.
The Dow is down 364.87 points, or 1.1%.
The Nasdaq is up 93.09 points, or 0.8%.
The Russell 2000 is down 15.17 points, or 0.9%.
For the year:
The S&P 500 is up 291.12 points, or 7.6%.
The Dow is up 162.26 points, or 0.5%.
The Nasdaq is up 1,862.02 points, or 17.8%.
The Russell 2000 is down 16.54, or 0.9%.
Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.