How Major US Stock Indexes Fared Aug. 17

U.S. stocks slipped further from their record heights after rising oil prices cranked up the pressure on inflation and financial markets.The S&P 500 fell 0.5 percent Monday, but remained near its all-time high set on Thursday.The Dow Jones Industrial Average dipped 0.5 percent, and the Nasdaq composite dropped 0.3 percent.Wall Street is near records in large part because profits are booming for big U.S. companies.L3Harris Technologies fell 4.6 percent after the defense company said Christopher Kubasik stepped down as its CEO and chairman.Alphabet dipped 0.5 percent even though Berkshire Hathaway said it increased its investment in Google’s parent company, along with several homebuilders.On Monday:The S&P 500 fell 40.70 points, or 0.5 percent, to 7,745.06.The Dow Jones Industrial Average fell 272.63 points, or 0.5 percent, to 53,459.78.The Nasdaq composite fell 84.25 points, or 0.3 percent, to 26,644.91.The Russell 2000 index of smaller companies fell 10.88 points, or 0.4 percent, to 3,057.54.For the year:The S&P 500 is up 899.56 points, or 13.1 percent.The Dow is up 5,396.49 points, or 11.2 percent.The Nasdaq is up 3,402.92 points, or 14.6 percent.The Russell 2000 is up 575.63 points, or 23.2 percent.The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.