Stocks closed lower on Wall Street Tuesday, bringing major indexes slightly below the record highs they set a day earlier.
Investors were weighing the latest quarterly earnings reports from big U.S. companies and concerns about inflation. Inflation has been a lingering concern for the markets as investors try to gauge how the Federal Reserve will respond to it.
The latest report from the Labor Department showed yet another increase in consumer prices in June that surprised economists. Banks, including Goldman Sachs and JPMorgan Chase helped kick off the latest round of corporate earnings reports, along with PepsiCo.
On Tuesday:
The S&P 500 fell 15.42 points, or 0.4%, to 4,369.21.
The Dow Jones Industrial Average fell 107.39 points, or 0.3%, to 34,888.79.
The Nasdaq fell 55.59 points, or 0.4%, to 14,677.65.
The Russell 2000 index of smaller companies fell 42.96 points, or 1.9%, to 2,238.86.
For the week:
The S&P 500 is down 0.34 points, or less than 0.1%.
The Dow is up 18.63 points, or 0.1%.
The Nasdaq is down 24.26 points, or 0.2%.
The Russell 2000 is down 41.14 points, or 1.8%.
For the year:
The S&P 500 is up 613.14 points, or 16.3%.
The Dow is up 4,282.31 points, or 14%.
The Nasdaq is up 1,789.37 points, or 13.9%.
The Russell 2000 is up 264.01 points, or 13.4%.
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