Stocks moved mostly lower over the course of the trading day on Wednesday, extending the pullback seen in the previous session. The tech-heavy Nasdaq showed another particularly steep drop, tumbling to its lowest closing level in nearly two months.
The major averages saw further downside going into the close, ending the session at their worst levels of the day. The Nasdaq plunged 361.04 points or 2.7 percent to 12,997.75, the S&P 500 slumped 50.57 points or 1.3 percent to 3,819.72 and the Dow fell 121.43 points or 0.4 percent to 31,270.09.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.