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January 19, 2023

Wall Street has biggest pullback of the year

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Wall Street had its biggest pullback of the year Wednesday after a broad slide for stocks wiped out much of the benchmark S&P 500 index's gains from last week.

The S&P 500 fell 1.6% after having been up as much as 0.6% in the early going. The Dow Jones Industrial Average lost 1.8% and the Nasdaq composite slid 1.2%, ending a seven-day winning streak. The losses are reversal for the market, which kicked off the year with a two-week rally.


 
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