How major US stock indexes fared Wednesday 1/18/2023

The Associated Press

Wall Street had its biggest pullback of the year as a January market rally sputtered.

Technology stocks led the way lower, including a 1.9% drop in Microsoft after the tech titan joined others in its industry in announcing layoffs. Weak readings on retail sales and industrial production also helped keep investors in a selling mood.

The S&P 500 fell 1.6% Wednesday. The Nasdaq and the Dow also fell. Treasury yields fell broadly. Japanese stocks ended higher after the Bank of Japan kept its loose monetary policy unchanged, dispelling speculation that it would raise rates to fight inflation.

On Wednesday:

The S&P 500 fell 62.11 points, or 1.6%, to 3,928.86.

The Dow Jones Industrial Average fell 613.89 points, or 1.8%, to 33,296.96.

The Nasdaq fell 138.10 points, or 1.2%, to 10,957.01.

The Russell 2000 index of smaller companies fell 29.92 points, or 1.6%, to 1,854.36.

For the week:

The S&P 500 is down 70.23 points, or 1.8%.

The Dow is down 1,005.65 points, or 2.9%.

The Nasdaq is down 122.14 points, or 1.1%.

The Russell 2000 is down 32.67 points, or 1.7%.

For the year:

The S&P 500 is up 89.36 points, or 2.3%.

The Dow is up 149.71 points, or 0.5%.

The Nasdaq is up 490.53 points, or 4.7%.

The Russell 2000 is up 93.12 points, or 5.3%.