The S&P 500 Index ($SPX) (SPY) Thursday closed down -1.23%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -1.35%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.55%.
Stocks on Thursday gave up an early advance and sold off, with the S&P 500 and Nasdaq 100 dropping to 2-week lows and the Dow Jones Industrials falling to a 2-1/2 week low. Hawkish Fed comments Thursday weighed in stocks after Philadelphia Fed President Harker said “inflation is still too high,” and Minneapolis Fed President Kashkari said Fed rate cuts may not be needed this year if progress on inflation stalls.
