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Wall Street stumbled to its longest losing streak in more than a month as U.S. stocks gave back more of this year’s big gains.
The S&P 500 fell 0.5 percent Thursday for its third straight drop. The Dow Jones Industrial Average slipped 0.4 percent, and the Nasdaq composite sank 0.5 percent. All three indexes are still near their records set at the start of the week.
Stocks felt pressure from reports showing the U.S. economy may be stronger than economists thought. That could make the Federal Reserve less likely to cut interest rates several times in the coming months.
On Thursday:
The S&P 500 fell 33.25 points, or 0.5 percent, to 6,604.72.
The Dow Jones Industrial Average fell 173.96 points, or 0.4 percent, to 45,947.32.
The Nasdaq composite fell 113.16 points, or 0.5 percent, to 22,384.70.
The Russell 2000 index of smaller companies fell 23.94 points, or 1 percent, to 2,411.04.
For the week:
The S&P 500 is down 59.64 points, or 0.9 percent.
The Dow is down 367.95 points, or 0.8 percent.
The Nasdaq is down 246.78 points, or 1.1 percent.
The Russell 2000 is down 37.73 points, or 1.5 percent.
For the year:
The S&P 500 is up 723.09 points, or 12.3 percent.
The Dow is up 3,403.10 points, or 8 percent.
The Nasdaq is up 3,073.90 points, or 15.9 percent.
The Russell 2000 is up 180.88 points, or 8.1 percent.
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