Stocks fell during volatile trade Wednesday, following fresh quarterly results that have thus far failed to restore investor confidence amid concerns about rising interest rates and signs of a global economic slowdown.
Upbeat results from Boeing Co. were credited with briefly pushing the Dow higher in early morning trading.
The Dow Jones Industrial Average fell as much as 287 points before paring those losses to be down 40 points, or 0.2% to 25,142. The S&P 500 index was down 15 points, or 0.6% at 2,725, while the Nasdaq Composite Index fell 77 points to 7,360.
Volatility is expected to remain, as Wall Street wades through this week’s deluge of quarterly corporate results. Some 150 companies are slated to report, including several megacap names. Investors are seeking the degree to which higher interest rates are impacting the economy, as the Federal Reserve has indicated it will continue to tighten monetary policy by year’s end.
China's recent stock market troubles and political drama in Europe surrounding Italy’s budget row with the European Union and Britain's efforts to exit that trade bloc also have combined to hurt investor sentiment.