Stocks fell Thursday as investors grew increasingly concerned the Federal Reserve will keep raising rates despite signs of slowing inflation.
The Dow Jones Industrial Average lost 252.40 points, or 0.76%, to 33,044.56, posting its third down day in a row and giving up its gains from the new year's rally. The 30-stock index is now down 0.31% in 2023.
Meanwhile, the S&P 500 fell 0.76% to 3,898.85, and the Nasdaq Composite shed 0.96% to end the session at 10,852.27. Both indexes are still positive for the year.
All of the major averages are on pace for their first negative week in three. The Dow is down 3.67% and on pace for its worst weekly performance since September. The S&P and Nasdaq have each lost more than 2% on a weekly basis.
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