U.S. stocks fell across industries on Wednesday as investors worried over stock valuations, economic growth and rising interest rates. Stocks rose at the start of trading, but quickly lost their gains. A comment from Federal Reserve Chair Janet Yellen suggesting that stocks are generally overvalued added to the selling pressure.
On Wednesday:
The Dow Jones industrial average dropped 86.22 points, or 0.5 per cent, to 17,841.98.
The Standard & Poor's 500 index fell 9.31 points, or 0.5 per cent, to 2,080.15.
The Nasdaq composite declined 19.68 points, or 0.4 per cent, to 4,919.64.
For the week:
The Dow is down 182.08 points, or 1 per cent.
The S&P 500 index is down 28.14 points, or 1.3 per cent.
The Nasdaq is down 85.75 points, or 1.7 per cent.
For the year:
The Dow is up 18.91 points, or 0.1 per cent.
The S&P 500 index is up 21.25 points, or 1 per cent.
The Nasdaq is up 183.59 points, or 3.9 per cent.
This content appears as provided to The Globe by the originating wire service. It has not been edited by Globe staff.